U.S. and China Reach Breakthrough on Rare Earth Shipments

News Snapshot:

The United States and China have achieved a significant understanding aimed at expediting rare earth shipments to the U.S., according to a White House official. This development comes as part of ongoing negotiations to mitigate the impact of the trade war between the two largest global economies. In discussions held in May in Geneva, China agreed to eliminate non-tariff countermeasures first implemented on April 2. These measures were part of China's response to tariffs imposed by the administration of U.S. President Donald Trump. Commerce Secretary Howard Lutnick affirmed China's commitment to deliver rare earths to the U.S., following which the...