The U.S. and China have a framework trade deal on rare earths. Trump calls the deal "done," but it awaits final approval from both leaders.
High-level trade talks between the United States and China in London this week have culminated in what is being described by officials as a "framework" agreement. The discussions, held at Lancaster House on Monday and Tuesday, centred on critical economic issues, including U.S. access to Chinese rare earth minerals and magnets, and Chinese access to U.S. technology.
Following the negotiations, President Donald Trump announced on his Truth Social platform that a deal with China is "done," pending final approval from himself and Chinese President Xi Jinping. In his post, Trump stated, "OUR DEAL WITH CHINA IS DONE, SUBJECT TO FINAL APPROVAL WITH PRESIDENT XI AND ME. FULL MAGNETS, AND ANY NECESSARY RARE EARTHS, WILL BE SUPPLIED, UP FRONT, BY CHINA."
He further added, "LIKEWISE, WE WILL PROVIDE TO CHINA WHAT WAS AGREED TO, INCLUDING CHINESE STUDENTS U.S.ING OUR COLLEGES AND UNIVERSITIES (WHICH HAS ALWAYS BEEN GOOD WITH ME!). WE ARE GETTING A TOTAL OF 55% TARIFFS, CHINA IS GETTING 10%. RELATIONSHIP IS EXCELLENT! THANK YOU FOR YOUR ATTENTION TO THIS MATTER!"
While Trump has characterised the agreement as definitive, reports from various international news outlets describe the outcome as an "agreement in principle." Officials from both sides have indicated that the framework will now be presented to their respective leaders for final endorsement.
The talks in London aimed to de-escalate ongoing trade tensions between the two economic giants. The issue of rare earth minerals, which are crucial for numerous high-tech manufacturing sectors in the U.S., was a key point of negotiation.
The proposed tariff rates mentioned by Trump—55% for the U.S. and 10% for China—would mark a significant development in the trade relationship. The mention of facilitating access for Chinese students to U.S. universities addresses another point of recent friction.
Chinese officials have also confirmed that a consensus on a framework was reached. However, their public statements have emphasised that the agreement is a preliminary step and requires further approval. The relationship between the two nations has been strained, with both sides imposing tariffs and restrictions on various goods and technologies. This latest development, though its finality is depicted differently by Trump and official reports, suggests a potential pathway to resolving some of the major trade disputes.
France is on track to run a larger-than-expected pension deficit from 2045 as falling birth rates and an ageing population put increasing pressure on ...
Russia has once again offered warm words to Tbilisi, with Foreign Ministry spokeswoman Maria Zakharova praising Georgia's efforts to safeguard its sov...
While France hosts next week’s Group of Seven summit, businesses in neighbouring Switzerland have already begun taking precautions, with many shops ...
Fuel stations across the Russian-occupied Crimean Peninsula ran dry on Thursday as Ukraine stepped up attacks on supply routes to the region....
The United States and Canada have postponed the opening of the $4.7 billion Gordie Howe International Bridge linking Detroit and Windsor, Ontario, jus...
The United States and Canada have postponed the opening of the $4.7 billion Gordie Howe International Bridge linking Detroit and Windsor, Ontario, just days before a planned inauguration, amid ongoing bilateral discussions.
President Donald Trump announced on Thursday that he is nominating Jay Clayton to serve as the next U.S. Director of National Intelligence (DNI), replacing outgoing intelligence chief Tulsi Gabbard.
U.S. Donald Trump has said he has cancelled planned strikes on Iranian oil and gas ports announced earlier on Thursday. Trump said he made the decision after senior leadership in Iran agreed to peace talks.
Concurrent with the renewed military standoff between Iran and the U.S. in the Middle East, Tehran and Washington are clashing at the International Atomic Energy Agency (IAEA), where the U.N. nuclear watchdog’s Board of Governors is holding its quarterly meeting in Vienna.
Mexico and South Africa meet in Thursday’s World Cup opener in Mexico City, with both teams approaching the match from very different positions but facing their own pressures.
The Pakistani city of Karachi is struggling under severe heat and humidity as the country enters a prolonged heatwave period. The Pakistan Meteorological Department (PMD) has warned of above-normal temperatures across much of the country between 7 and 12 June.
Ukraine's military said it struck a Russian "shadow fleet" tanker in the Black Sea as part of ongoing efforts to disrupt Moscow's energy and logistics networks. The move underscores Kyiv's focus on targeting maritime assets it says are used to bypass sanctions on Russian oil exports.
U.S. forces say they have completed strikes on Iranian military sites near the Strait of Hormuz. Iran responded with missile attacks on an American base in Jordan, marking a sharp escalation in tensions between the two sides.
Mexico City has been hit by major disruption eight days before it hosts the opening match of the 2026 FIFA World Cup, as teachers, retired judges and other groups staged mass protests.
An adviser to the European Union’s top court said on Thursday that the European Commission’s appeal against a 2024 ruling, which required disclosure of information on COVID-19 vaccine contracts, should be dismissed.
Migrants in the U.S. who were prevented from being sent back to their home country due to the risk of persecution are set to be deported to the war-torn Central African Republic.
Finance ministers across East Africa unveiled their 2026/27 budgets on Thursday, as investors assessed how governments plan to protect their economies from shocks linked to the ongoing Iran war while managing rising debt levels.
More than a third of Belgium’s population now has a foreign background, according to new figures released by the national statistics office, Statbel. The data show that around 4.34 million of the country’s nearly 11.7 million residents do not have an entirely Belgian background.
SpaceX has made history with the largest initial public offering ever in the United States, pricing its shares at $135 each and achieving a market valuation of $1.77 trillion.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment