Years
China is the world’s largest rare earth elements producer, which is essential for industries ranging from electric vehicles to defense. Beijing imposed restrictions in April, increasing global anxiety.
After months of stress and tariff war, the trade dispute between the United States and China is now on the path of reconciliation. Top officials of the two countries announced that they had agreed to a structure to move forward on trade. After nearly 20 hours of talks at London’s Lancaster House, US Commerce Secretary Howard Lutynik said that we have reached a framework to implement Geneva consent. Referring to the previous agreement, a heavy tariff on both sides was suspended for 90 days. The negotiations held in the mansion of the Georgian era near Buckingham Palace reflects significant changes in the tone, hoping that the disputes on significant exports such as rare earth would be resolved.
China is the world’s largest rare earth elements producer, which is essential for industries ranging from electric vehicles to defense. Beijing imposed restrictions in April, increasing global anxiety. Lutenik suggested that the new structure was approved by the two presidents may soon be a solution. Once it is approved by the presidents, we will try to implement it. American trade representative Jamison Greer confirmed that although no further meeting is scheduled, the two sides remain in constant touch. He said that we feel positive about talks with Chinese. Meanwhile, China’s chief negotiator Lee Chenggang said that the delegation would return to their respective leaders with the proposal.
On June 5, Trump had a long conversation with Chinese President Xi JinpingAnd tried to bring the relationship back on track. Trump announced on social media the next day that business talks in London would begin again. China, the largest producer of rare minerals in the world, indicated that it could relax the export restrictions imposed on these elements in April, which is anxious vehicle manufacturer from all over the world. In return, China wants the US to lift the ban on China’s access to the technology used to make advanced semiconductors. Trump said he wanted to open the leading China in the construction sector in the world to American products. Trump said in the ‘White House’ (the official residence and office of the President of the US) that if we do not open our doors to China, we will probably be able to do anything. We want to open our doors to China.
Other news