Trump hails a ‘done deal' with China on trade. What's actually in it is fuzzy
Singapore: US President Donald Trump has declared that a trade deal with China has been done, with Beijing agreeing to supply rare earths and magnets, and the US committing to rolling back restrictions on technology sales and visa curbs on Chinese students.
But it remains unclear whether this agreement – hashed out over two days of negotiations in London – represents a final deal between the two sides, or a de-escalation measure with a broader pact still to be pursued.
'We made a great deal with China. We're very happy with it,' Trump told reporters before a Wednesday evening (Thursday AEST) performance at Washington's Kennedy Centre.
'We have everything we need, and we're going to do very well with it. And hopefully they are too.'
The full details of the agreement have not been released, but it appears to be limited to winding back the recent punitive measures that the two sides had slapped on each other's economies since Trump kicked off his global trade war in April.
Loading
This included an agreement by Beijing to temporarily restore rare earth licences to allow shipments to continue – but The Wall Street Journal reported China has imposed a six-month limit on the licences, signalling the fragility of the agreement. Rare earths are critical for the manufacturing of many products, including electrical vehicles, wind turbines and defence technology.
The agreement did not seem to address other key issues that were the rationale for the trade war, including China's massive trade surplus with the US or its role as a chemical manufacturer in the fentanyl crisis.
Trump's declaration of a deal has been met with scepticism by many analysts.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Advertiser
an hour ago
- The Advertiser
US helps Israel shoot down barrage of Iranian missiles
American air defence systems and navy assets in the Middle East helped Israel shoot down incoming ballistic missiles that Tehran launched in response to Israeli strikes on Iran's nuclear facilities and top military leaders, US officials say. The US has both ground-based Patriot missile defence systems and Terminal High Altitude Area Defense systems in the region capable of intercepting ballistic missiles, which Iran fired in multiple barrages in retaliation for Israel's initial attack. Naval assets also were involved in assisting Israel on Friday as Iran fired missiles at Tel Aviv, one official said. The United States also is shifting military resources, including ships, in the Middle East in response to the strikes. The navy had directed the destroyer USS Thomas Hudner, which is capable of defending against ballistic missiles, to begin sailing from the western Mediterranean Sea toward the eastern Mediterranean and had directed a second destroyer to begin moving forward so it could be available if requested by the White House, US officials said. American fighter jets also are patrolling the sky in the Middle East to protect personnel and installations, and air bases in the region are taking additional security precautions, the officials said, speaking on the condition of anonymity. President Donald Trump met his National Security Council principals on Friday to discuss options. The forces in the region have been taking precautionary measures for days, including having military dependents voluntarily depart regional bases, in anticipation of the strikes and to protect personnel in case of a large-scale response from Tehran. Typically, about 30,000 troops are based in the Middle East, and about 40,000 troops are in the region now, according to a US official. That number surged as high as 43,000 last October amid the ongoing tensions between Israel and Iran as well as continuous attacks on commercial and military ships in the Red Sea by the Iranian-backed Houthis in Yemen. The navy has additional assets that it could send to the Middle East if needed, particularly its aircraft carriers and the warships that sail with them. USS Carl Vinson is in the Arabian Sea - the only aircraft carrier in the region. The carrier USS Nimitz is in the Indo-Pacific and could be directed towards the Middle East if needed, and USS George Washington just left its port in Japan and could also be directed to the region, one official said. American air defence systems and navy assets in the Middle East helped Israel shoot down incoming ballistic missiles that Tehran launched in response to Israeli strikes on Iran's nuclear facilities and top military leaders, US officials say. The US has both ground-based Patriot missile defence systems and Terminal High Altitude Area Defense systems in the region capable of intercepting ballistic missiles, which Iran fired in multiple barrages in retaliation for Israel's initial attack. Naval assets also were involved in assisting Israel on Friday as Iran fired missiles at Tel Aviv, one official said. The United States also is shifting military resources, including ships, in the Middle East in response to the strikes. The navy had directed the destroyer USS Thomas Hudner, which is capable of defending against ballistic missiles, to begin sailing from the western Mediterranean Sea toward the eastern Mediterranean and had directed a second destroyer to begin moving forward so it could be available if requested by the White House, US officials said. American fighter jets also are patrolling the sky in the Middle East to protect personnel and installations, and air bases in the region are taking additional security precautions, the officials said, speaking on the condition of anonymity. President Donald Trump met his National Security Council principals on Friday to discuss options. The forces in the region have been taking precautionary measures for days, including having military dependents voluntarily depart regional bases, in anticipation of the strikes and to protect personnel in case of a large-scale response from Tehran. Typically, about 30,000 troops are based in the Middle East, and about 40,000 troops are in the region now, according to a US official. That number surged as high as 43,000 last October amid the ongoing tensions between Israel and Iran as well as continuous attacks on commercial and military ships in the Red Sea by the Iranian-backed Houthis in Yemen. The navy has additional assets that it could send to the Middle East if needed, particularly its aircraft carriers and the warships that sail with them. USS Carl Vinson is in the Arabian Sea - the only aircraft carrier in the region. The carrier USS Nimitz is in the Indo-Pacific and could be directed towards the Middle East if needed, and USS George Washington just left its port in Japan and could also be directed to the region, one official said. American air defence systems and navy assets in the Middle East helped Israel shoot down incoming ballistic missiles that Tehran launched in response to Israeli strikes on Iran's nuclear facilities and top military leaders, US officials say. The US has both ground-based Patriot missile defence systems and Terminal High Altitude Area Defense systems in the region capable of intercepting ballistic missiles, which Iran fired in multiple barrages in retaliation for Israel's initial attack. Naval assets also were involved in assisting Israel on Friday as Iran fired missiles at Tel Aviv, one official said. The United States also is shifting military resources, including ships, in the Middle East in response to the strikes. The navy had directed the destroyer USS Thomas Hudner, which is capable of defending against ballistic missiles, to begin sailing from the western Mediterranean Sea toward the eastern Mediterranean and had directed a second destroyer to begin moving forward so it could be available if requested by the White House, US officials said. American fighter jets also are patrolling the sky in the Middle East to protect personnel and installations, and air bases in the region are taking additional security precautions, the officials said, speaking on the condition of anonymity. President Donald Trump met his National Security Council principals on Friday to discuss options. The forces in the region have been taking precautionary measures for days, including having military dependents voluntarily depart regional bases, in anticipation of the strikes and to protect personnel in case of a large-scale response from Tehran. Typically, about 30,000 troops are based in the Middle East, and about 40,000 troops are in the region now, according to a US official. That number surged as high as 43,000 last October amid the ongoing tensions between Israel and Iran as well as continuous attacks on commercial and military ships in the Red Sea by the Iranian-backed Houthis in Yemen. The navy has additional assets that it could send to the Middle East if needed, particularly its aircraft carriers and the warships that sail with them. USS Carl Vinson is in the Arabian Sea - the only aircraft carrier in the region. The carrier USS Nimitz is in the Indo-Pacific and could be directed towards the Middle East if needed, and USS George Washington just left its port in Japan and could also be directed to the region, one official said. American air defence systems and navy assets in the Middle East helped Israel shoot down incoming ballistic missiles that Tehran launched in response to Israeli strikes on Iran's nuclear facilities and top military leaders, US officials say. The US has both ground-based Patriot missile defence systems and Terminal High Altitude Area Defense systems in the region capable of intercepting ballistic missiles, which Iran fired in multiple barrages in retaliation for Israel's initial attack. Naval assets also were involved in assisting Israel on Friday as Iran fired missiles at Tel Aviv, one official said. The United States also is shifting military resources, including ships, in the Middle East in response to the strikes. The navy had directed the destroyer USS Thomas Hudner, which is capable of defending against ballistic missiles, to begin sailing from the western Mediterranean Sea toward the eastern Mediterranean and had directed a second destroyer to begin moving forward so it could be available if requested by the White House, US officials said. American fighter jets also are patrolling the sky in the Middle East to protect personnel and installations, and air bases in the region are taking additional security precautions, the officials said, speaking on the condition of anonymity. President Donald Trump met his National Security Council principals on Friday to discuss options. The forces in the region have been taking precautionary measures for days, including having military dependents voluntarily depart regional bases, in anticipation of the strikes and to protect personnel in case of a large-scale response from Tehran. Typically, about 30,000 troops are based in the Middle East, and about 40,000 troops are in the region now, according to a US official. That number surged as high as 43,000 last October amid the ongoing tensions between Israel and Iran as well as continuous attacks on commercial and military ships in the Red Sea by the Iranian-backed Houthis in Yemen. The navy has additional assets that it could send to the Middle East if needed, particularly its aircraft carriers and the warships that sail with them. USS Carl Vinson is in the Arabian Sea - the only aircraft carrier in the region. The carrier USS Nimitz is in the Indo-Pacific and could be directed towards the Middle East if needed, and USS George Washington just left its port in Japan and could also be directed to the region, one official said.
Sky News AU
2 hours ago
- Sky News AU
Albanese yet to secure meeting with Trump ahead of G7
Australia is now demanding a change of approach from Israel's government in the wake of the renewed conflict between Tel Aviv and Tehran. This is ahead of Anthony Albanese's attendance at the G7 in Canada where he is yet to secure a meeting with US President Donald Trump.
West Australian
4 hours ago
- West Australian
Israel under attack as Iran launches retaliatory strikes with explosions heard in Tel Aviv and Jerusalem
Iran has launched retaliatory air strikes at Israel, with explosions heard in Jerusalem and Tel Aviv, the country's two biggest cities, following Israel's biggest-ever military strike against Iran. Air raid sirens sounded across Israel as authorities urged the public to take shelter. Missiles were seen over Tel Aviv's skyline, with the military saying Iran had fired two salvos. The US military has helped shoot down Iranian missiles that were headed toward Israel, two US officials said on Friday. In the Tel Aviv area, Israel's ambulance service said five people were treated for shrapnel injuries. Live footage of Tel Aviv showed what appeared to be a missile hitting an urban area. A critically injured woman was admitted to Beilinson Hospital in nearby Petah Tikva, a hospital spokesperson said. Iranian state news agency IRNA said Iran launched hundreds of ballistic missiles at Israel after Israel blasted Iran's huge Natanz underground nuclear site and killed its top military commanders. Israel's military said Iran fired fewer than 100 missiles and most were intercepted or fell short. 'A limited number of buildings were affected, some of them as a result of shrapnel from the interception operations,' the Israeli military's Arabic-language spokesman Avichay Adraee said in a post on X Israel said its strikes were the start of 'Operation Rising Lion'. Iran's Supreme Leader Ayatollah Ali Khamenei accused Israel of having started the strikes and initiating a war. US President Donald Trump said it was not too late for Iran to halt the bombing campaign by reaching a deal on its nuclear program. As evening fell on Friday, Iranian media reported explosions on the northern and southern outskirts of Tehran and at Fordow, near the holy city of Qom, a second nuclear site which had been spared in the first wave of attacks. Air defences were activated across Tehran and explosions could be heard in Isfahan. Israel's military said it was striking Iranian missile and drone launching sites, and had struck another nuclear site in Isfahan. Israeli Prime Minister Benjamin Netanyahu said the Israeli campaign was aimed at defeating an existential threat from Iran, invoking the failure to halt the Holocaust in World War II. Israel's operation 'will continue for as many days as it takes to remove this threat,' he said in a TV address. 'Generations from now, history will record our generation stood its ground, acted in time and secured our common future.' In a phone interview with Reuters, Trump said it was not clear if Iran's nuclear program had survived. He said nuclear talks between Iran and the United States, scheduled for Sunday, were still on the agenda although he was not sure if they would take place. 'We knew everything,' Trump said of the Israeli attack plans. 'I tried to save Iran humiliation and death. I tried to save them very hard because I would have loved to have seen a deal worked out,' Trump said. 'They can still work out a deal, however, it's not too late.' Earlier, Trump posted on Truth Social: 'Iran must make a deal, before there is nothing left.' Israel's National Security Adviser Tzachi Hanegbi said military action by itself would not destroy Iran's nuclear program but could 'create the conditions for a long-term deal, led by the United States' to get rid of it. Two regional sources said at least 20 Iranian military commanders were killed, a stunning decapitation reminiscent of Israeli attacks that swiftly wiped out the leadership of Lebanon's once-feared Hezbollah militia last year. Iran also said six of its top nuclear scientists had been killed. Among the generals killed on Friday were the armed forces chief of staff, Major General Mohammad Bagheri, and the Revolutionary Guards chief Hossein Salami. Major General Mohammad Pakpour, swiftly promoted to replace Salami as Guards commander, vowed retaliation in a letter to the Supreme Leader read out on state television: 'The gates of hell will open to the child-killing regime.' Iranians described an atmosphere of fear and anger, with some people rushing to change money and others seeking a way out of the country to safety. Iranian media showed images of destroyed apartment blocks, and said nearly 80 civilians were killed in attacks that targeted nuclear scientists in their beds and wounded more than 300 people. Israel said a missile fired from Yemen - whose Houthi militia are one of the last remaining Iranian-aligned groups still able to fire at Israel - had landed in Hebron in the occupied West Bank. The Palestinian Red Crescent said three Palestinian children were wounded by shrapnel there. Israel said that Iran had launched about 100 drones towards Israeli territory on Friday but Iran denied this and there were no reports of drones reaching Israeli targets. The United Nations Security Council was due to meet on Friday at Iran's request. Iran said in a letter to the Council that it would respond decisively and proportionally to Israel's 'unlawful' and 'cowardly' acts. Israeli officials said it may be some time before the extent of damage to the underground nuclear site at Natanz is clear, where Iran has refined uranium to levels some countries have long said are suitable for a bomb rather than civilian use. Iran has long insisted its nuclear program is for civilian purposes only. — with AAP
