US and China Partner to Enhance Rare Earth Exports

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Washington, D.C. – Recent discussions have led to a significant agreement between the United States and China to expedite the export of rare earth minerals to the U.S., according to a White House official.

The official stated that during recent negotiations, both nations established a trade framework aimed at reducing tensions and enhancing collaboration on essential materials.

Following discussions in Geneva last May, Washington and Beijing reached a temporary agreement to decrease the steep reciprocal tariffs imposed on a range of goods. China also agreed to lift some non-tariff restrictions. However, U.S. officials later alleged that Beijing failed to adhere to the terms by delaying export license approvals for rare earths.

This month, further talks in London resulted in an agreement to build on the consensus reached in Geneva.

On Thursday, a White House official informed AFP that President Donald Trump’s administration and China had "formulated an additional framework to operationalize the Geneva agreement."

This announcement followed a statement made by Trump during an event, in which he mentioned that the U.S. had "just finalized" a deal related to trade with China, although he did not provide specific details.

When asked about Trump’s comments in an interview with Bloomberg TV, U.S. Commerce Secretary Howard Lutnick referred to the London negotiations, stating that the framework deal, which required high-level endorsement, had been "officially signed."

Additionally, the White House indicated that the U.S. might extend the July deadline for steep tariffs on various economies that are scheduled to take effect.

Earlier this year, Trump announced a broad 10% tariff on most trading partners and had previously proposed, but then paused, higher rates on multiple economies as negotiations continued.

This pause is set to end on July 9.

When questioned about the possibility of extending the pause, Press Secretary Karoline Leavitt told reporters, "It’s possible, but that’s a decision for the president to make." She added, "The deadline isn’t critical. The president has the authority to offer these countries a deal if they do not reach an agreement by then."

This decision allows Trump to choose a reciprocal tariff rate that he believes will be beneficial for the U.S., she noted.

Lutnick mentioned on Bloomberg TV that some trade agreements are expected to be announced within the upcoming week. "Those who are negotiating will receive feedback from us," he stated. "The July 9 deadline will stand, but as the president said, if countries wish to return for further negotiations, they may do so, but the tariff rate will be finalized."

Regarding the state of trade negotiations, Leavitt stated that U.S. Trade Representative Jamieson Greer is "making significant efforts" and has engaged in "constructive discussions with several key trading partners."

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