US President Donald Trump Says Rare Earths Deal ‘Done’ with China – ryan

Talks Aimed at Cooling Tensions BetWeen the US and China have ended in a “deal”, accorting to US President Donald Trump.

He Said China Had Aggreed to Supply US Companies with Magnets and Rare Earth Metals, while the US WOULK BACK THREATS TO REVOKE VISAS OF CHINESS STUDENTS.

“Our deal with china is done, subject to final Approval from President XI and with,” Trump wrote on his media platform Social.

IT FOLLOWEED TWO DAYS OF INTERSE TALKS IN LONDON TO RESOLVE CONFLICTS THAT HAD EMERGED SINCE THE TWO AGREED A TRACE IN MAY, AFTER A RAPID ESCALLATION OF TARIFS HAD NEARLY SEPTED TRADE THE WORLD’S LARGEST ECONOMIES.

But the limited naturalness of the announcement underscored Questions the White House is Facing About Whether Its Tariff Strategy Can Quickly Yield Solid Trade Deals.

Speaking on Thursday, President Trump Said He Will Set Unilateral Tariff Rates with Trading Partners in the Next One or Two Weeks.

The US President Said He Waled Send Out Letters Specifying the Terms of the New Deals ahead of a 9 July Deadline to Reimpose Higher Tariffs on Countries Around the World.

Separately, US Treasury Secretary Scott Bessent Said and Expective the US Waled the Existting Pause on Some of Its Most Aggressive Tariffs to Allow Talks with Other Countries to Continue.

Details About the New Agrement with China Were Limited. Trump and China’s Leader XI JINPING SPOKE OVER THE PHONE LAST WEEK TO KICKSTTART The Negotiations, Which Involved Top Officials from Both Countries.

Officials Said It Waled Not Alter the Broad Outlines of the May Truce, which Lowered – But Did Not Eliminate – New Tariffs Announched by the Two Countries Sine Trump Launched a New Trade Earlier This Year.

“The two sides have, in principle, reashed a framework for implementing the consensus reached by the two heads of the Phone call on 5 june and the consensus reached at the Geneva Meeting,” China’s vice commerce minister li chenggang said.

US Commerce Secretary Howard Lutnick Told Reporters the Two Sides Had “Reached a Framework to implement the geneva consensus”.

“Once the Presidents Approve IT, we will say to implement it,” he added.

Speaking to Broadcaster Cnbc on wednesday, he said the talks Had “Cleaned up” the geneva aggregement.

“We’re totally on the right track,” he said. “Things FEEL Really Good.”

White House Press Secretary Caroline Leavitt Said Trump was Currently Review the details of the deal. “But what the President Heard, he like,” she added.

The negotiations in London were triggered in part by us Concerns that china was being too much to release exports of its magnets and rare earth minerals, which are essential for manufacturing from smartphones.

Beijing in turn has criticked controls the US Has Has in Place to Limit the Country’s Access to Semiconductors and Other Related Technologies Linked to Artificial Intelligence (AI) and the Trump Administration Visas for Chinese Students.

Speaking to Cnbc, Lutnick Said the US HAD AGREED TO REMOVE SOME “COUNTER-MEASURES” WITHOUT BEING ABOUT THE RESPONSE.

Treasury Secretary Scott Bessent, who was testifying before congress on wednesday, said the recent talks hay been narrowly focused and a more comprehensive deal time.

“It will be a Much Longer Process,” he Said.

In the Same Hearing, he acknowledged that trade Talks with Other Countries Might Extend Beyond the Administration’s Self-Declared 90-Day Deadline.

“It is Highly Likely that for Those Countries That Are Negotiating – OR TRADING BLOCS, IN THE CASE OF THE EU – WHO ARE negotiating in good Faith, we will roll the dates forward the good -faith negotiation.

When Trump Announced Sweeping Tariffs on Imports from A Number of Countries Earlier This Year, China was the hardest hit.

China Responded with Its Own Higher Rates on US Imports, Triggery Tit-For-for Increas.

In May, Talks Held in Switzerland Led to A Temporary Truce That Trump Called A “Total Reset”.

It Brought Trump’s New USA Tariffs on Chinese Products Down from 145% to 30%, while Beijing Slashed Levies on Us Imports to 10% and Promised to Lift Barriers on Critical Mineral Exports. It gave both sides a 90-day deadline to try to reach a trade deal.

But the US and China subsequently claimed bathes on non-tariff Pedges.

In his social media post, Trump Said the US WOULD HAVE TARKIFS ON CHINESS OF 55%, but officers said the figure included tariffs put in place during his first term.

Markets Showed Little Response to the Deal, Which Terry Haines, Founder of the Washington-Based Consultancy Pangaea Policy, Described As Having Both “Very Limited Scope and Unfinished Status”.

“Setting the geneva ‘pause’ back on track is the smallest of accomplishments, and doesn’t suggest that a brood US-CHINA deal or geopolitical rapeprochem is any closer in the foreseeable Future,” he wrote.