Trump & Xi Reignite Rare-Earth Deal Ahead of June 9 Trade Talks🤝🌐
A Key Call to Defuse Tensions📞
WASHINGTON: President Donald Trump confirmed that Chinese President Xi Jinping agreed to restart the flow of rare-earth materials following a 90-minute call between the two leaders. This move comes as the US and China prepare to resume trade negotiations in London on June 9.
High-Stakes Negotiations Set for London💼
Top US officials, including Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and Trade Representative Jamieson Greer, are slated to meet Chinese counterparts. Trump indicated on social media that "The meeting should go very well."
Tariff Truce & Trade Turbulence📉
Previous talks in May in Switzerland led to a tariff truce, but progress stalled as both nations accused each other of backtracking. The resumption of talks now aims to stabilize markets and iron out contentious issues such as tech bans and mineral exports.
Rare-Earth Materials: A Strategic Asset🧲
The US voiced serious concerns over access to rare-earth magnets vital for electric vehicles and defense systems. China, in turn, was frustrated by restrictions on AI chip exports and educational visas. China has now issued temporary export licenses to support US automakers.
Student Diplomacy & Unanswered Questions🎓
Trump expressed a warm welcome to Chinese students, calling it an "honour" to host them in the US. However, there remains speculation over what Trump may have offered in return for Xi's cooperation on rare-earth minerals.
Wall Street Reacts📊
While the Trump-Xi call raised some optimism in financial markets, investor sentiment remains cautious due to the unresolved core issues and lack of concrete details surrounding the trade agreement's future.
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