Deal with Beijing will speed China’s export of minerals to the US, treasury secretary says

News Snapshot:

BANGKOK (AP) — Washington and Beijing have signed a trade agreement that will make it easier for American firms to obtain magnets and rare earth minerals from China that are critical to manufacturing and microchip production, U.S. Treasury Secretary Scott Bessent said Friday. The agreement comes after China retaliated against steep import tariffs imposed by the Trump administration on Chinese goods and moved to slow export of rare earth minerals and magnets much-needed by U.S. industrial interests. Bessent said on Fox Business Network’s “Mornings with Maria” that Trump and Chinese President Xi Jinping “had a phone call” previously "and then...