Top White House official says chip curbs could ease if Beijing accelerates rare earth exports

Announcement follows phone call between US president and Chinese leader Xi Jinping

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China’s curbs on rare earth exports are reflected in trade data as value plummets in May, and risks to US supply chain are seen.

Top White House official says chip curbs could ease if Beijing accelerates rare earth exports

Elements of agreement covering car exports to America and beef and ethanol into UK will come into force

Beijing has a virtual monopoly on supply of the critical minerals used to make everything from cars to wind turbines.

US currency falls sharply after president says he will set new levies on trading partners in next two weeks