The United States and China have resolved disputes over rare earth mineral and magnet shipments, overcoming a key hurdle that had delayed a trade agreement reached in May.
China had suspended exports of critical minerals and magnets to the U.S. in retaliation against new American tariffs, disrupting supply chains vital to industries including automotive, aerospace, semiconductors, and defense. Though Beijing agreed in May during trade talks in Geneva to lift these restrictions, shipments did not resume as quickly as expected. This led the U.S. to implement countermeasures.
Following a phone call between Presidents Donald Trump and Xi Jinping and subsequent negotiations in London, both sides agreed on a framework to expedite shipments of these materials to the U.S. Treasury Secretary Bessent expressed confidence that magnet shipments would now flow as agreed.
While China's commerce ministry confirmed the framework's details and promised to approve export applications legally, rare earth exports remain subject to strict controls due to concerns over potential military use, slowing licensing processes.
The initial Geneva deal stalled because of China’s export curbs, prompting the U.S. to impose export controls on Chinese semiconductor design software, aircraft, and other goods. However, temporary licenses granted in early June helped ease supply chain issues, including to top U.S. automakers.
President Trump has also linked this trade progress to educational exchanges, noting the U.S. would continue allowing Chinese students in American institutions.
Despite these advances, the agreement highlights the challenges remaining before a comprehensive trade deal between the two global powers can be finalized.
As the massive pink-hulled container ship ONE Modern pulls into the Port of Hong Kong, its crew rushes to offload more than 700 containers within a tight 10-hour window.
For years, companies have navigated stringent U.S. data requirements for sensitive exports. Now, in a significant turn, China is implementing a similar system for its critical rare earth minerals, asking Western firms for proprietary business information and signaling a new global standard.
Chinese Vice Premier He Lifeng will visit the UK from June 8–13 for the first round of China-U.S. economic and trade consultations. Talks will include U.S. Treasury and Commerce Secretaries and Trade Representative Jamieson Greer.
As the U.S.-China trade standoff intensifies, Beijing has released a striking video vowing to resist pressure and uphold its global trade role, accusing Washington of economic coercion.
China cut benchmark lending rates for the first time since October on Tuesday, while major state banks lowered deposit rates as authorities work to ease monetary policy to help buffer the economy from the impact of the Sino-U.S. trade war.
U.S. President Donald Trump has said he would consider further bombing of Iranian nuclear sites if Tehran’s uranium enrichment reaches levels that raise concerns in Washington.
The United States and China have resolved disputes over rare earth mineral and magnet shipments, overcoming a key hurdle that had delayed a trade agreement reached in May.
The European Union plans closer cooperation with Pacific Rim nations under the CPTPP to advance global trade rules, but insists it is not seeking to replace the World Trade Organization.
The Kremlin has voiced strong concern over Estonia’s readiness to host NATO’s nuclear-capable F-35A jets, calling the move an immediate danger to Russia.
Chile's Vera C. Rubin Observatory has unveiled its first cosmic images, captured using the world's largest digital camera, paving the way for breakthroughs in understanding the solar system and monitoring asteroid threats to Earth.
Iran launched 18 ballistic missiles late Sunday targeting the U.S. military’s Al-Udeid Air Base in Qatar, the largest American installation in the Middle East.
The U.S. Embassy in Qatar has advised American citizens to shelter in place amid rising tensions between Israel and Iran, as part of a broader global security alert issued by Washington.
Severe rain in Venezuela has caused rivers to overflow and triggered landslides, sweeping away homes and collapsing a highway bridge, with five states affected and no casualties reported so far.
In a televised address on Saturday night, U.S. President Donald J. Trump announced that American forces, in coordination with Israel, had conducted precision strikes on Iran’s Fordow, Natanz, and Isfahan nuclear sites, aiming to dismantle Tehran’s enrichment capabilities.
President Donald Trump announced that U.S. forces struck three Iranian nuclear facilities, including Fordow, Natanz, and Esfahan, marking direct American involvement in the ongoing Israel-Iran conflict.
U.S. President Donald Trump has said he would consider further bombing of Iranian nuclear sites if Tehran’s uranium enrichment reaches levels that raise concerns in Washington.
The European Union plans closer cooperation with Pacific Rim nations under the CPTPP to advance global trade rules, but insists it is not seeking to replace the World Trade Organization.
The Kremlin has voiced strong concern over Estonia’s readiness to host NATO’s nuclear-capable F-35A jets, calling the move an immediate danger to Russia.
At least nine people, including children and their rescuers, died after sudden floodwaters swept through a river in Pakistan’s Swat Valley, turning a family picnic into tragedy.
North Korea plans to attract Russian tourists after opening its long-delayed Wonsan-Kalma coastal resort to domestic travellers in July, amid deepening ties with Moscow.
U.S. President Donald Trump has said he would consider further bombing of Iranian nuclear sites if Tehran’s uranium enrichment reaches levels that raise concerns in Washington.
The United States and China have resolved disputes over rare earth mineral and magnet shipments, overcoming a key hurdle that had delayed a trade agreement reached in May.
The European Union plans closer cooperation with Pacific Rim nations under the CPTPP to advance global trade rules, but insists it is not seeking to replace the World Trade Organization.
The Kremlin has voiced strong concern over Estonia’s readiness to host NATO’s nuclear-capable F-35A jets, calling the move an immediate danger to Russia.
Chile's Vera C. Rubin Observatory has unveiled its first cosmic images, captured using the world's largest digital camera, paving the way for breakthroughs in understanding the solar system and monitoring asteroid threats to Earth.
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