US commerce secretary Howard Lutnick quoted as saying US countermeasures will be removed once US receives rare earths
The United States has reached an agreement with China on how to expedite rare earth shipments to the US, a White House official has said, amid efforts to end a trade war between the world’s biggest economies.
President Donald Trump said earlier on Thursday that the US had signed a deal with China the previous day, without providing additional details, and that there might be a separate deal coming up that would “open up” India.
During US-China trade talks in May in Geneva, Beijing committed to removing non-tariff countermeasures imposed against the US since 2 April, although it was unclear how some of those measures would be walked back.
As part of its retaliation against new US tariffs, China suspended exports of a wide range of critical minerals and magnets, upending the supply chains central to automakers, aerospace manufacturers, semiconductor companies and military contractors around the world.
