logo
Trump says China's Xi agreed to restart flow of rare earth minerals

Trump says China's Xi agreed to restart flow of rare earth minerals

Nikkei Asia14 hours ago

WASHINGTON (Reuters) -- U.S. President Donald Trump said on Friday that Chinese President Xi Jinping agreed to let rare earth minerals and magnets flow to the United States, a move that could lower tensions between the world's biggest economies.
Asked by a reporter aboard Air Force One whether Xi had agreed to do so, Trump replied: "Yes, he did."

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Japan, EU eye launch of "competitive alliance" scheme to boost trade
Japan, EU eye launch of "competitive alliance" scheme to boost trade

Kyodo News

time18 minutes ago

  • Kyodo News

Japan, EU eye launch of "competitive alliance" scheme to boost trade

KYODO NEWS - 2 hours ago - 21:04 | Japan, All, World Japan and the European Union are preparing to launch an "alliance" framework to beef up their companies' competitiveness by promoting trade and economic security cooperation, diplomatic sources said Saturday, facing concerns over U.S. President Donald Trump's tariffs and Chinese trade practices. The creation of the "Japan-EU Competitiveness Alliance" is expected to be announced at a regular summit meeting being arranged for July, when Japanese Prime Minister Shigeru Ishiba is likely to host European Council President Antonio Costa and European Commission President Ursula von der Leyen, they said. The move will further align both sides' efforts to uphold a rules-based economic order, building on cooperation through a free trade agreement that removes tariffs and other trade barriers between the two economies, which account for 20 percent of the world's gross domestic product. Under the framework, Japan and the EU will work together to diversify supply chains for rare earth minerals in the face of China's export restrictions on the elements crucial for the production of smartphones and other high-tech products, according to the sources. They will also align subsidy conditions for environmental technology such as electric vehicle and hydrogen production to promote fair competition for manufacturers and reduce development costs. On the trade front, the two sides will seek to promote reform of the World Trade Organization that is deemed dysfunctional, with the United States dissatisfied with the global body's response to addressing Chinese trade practices and other issues. They will also seek to collaborate with the "Global South" emerging and developing economies as partners sharing values of free and fair trade as well as the rule of law, the sources said. The EU is also eager to cooperate with a vast trans-Pacific free trade agreement involving Japan and 10 other nations, plus Britain that joined the accord in 2023. Some inside the bloc have called for joining efforts in rulemaking, as members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership weigh better business environment for digital trade and climate change countermeasures.

Japan, EU eyes launch of "competitive alliance" scheme to boost trade
Japan, EU eyes launch of "competitive alliance" scheme to boost trade

Kyodo News

time2 hours ago

  • Kyodo News

Japan, EU eyes launch of "competitive alliance" scheme to boost trade

KYODO NEWS - 28 minutes ago - 21:04 | Japan, All, World Japan and the European Union are preparing to launch an "alliance" framework to beef up their companies' competitiveness by promoting trade and economic security cooperation, diplomatic sources said Saturday, facing concerns over U.S. President Donald Trump's tariffs and Chinese trade practices. The creation of the "Japan-EU Competitiveness Alliance" is expected to be announced at a regular summit meeting being arranged for July, when Japanese Prime Minister Shigeru Ishiba is likely to host European Council President Antonio Costa and European Commission President Ursula von der Leyen, they said. The move will further align both sides' efforts to uphold a rules-based economic order, building on cooperation through a free trade agreement that removes tariffs and other trade barriers between the two economies, which account for 20 percent of the world's gross domestic product. Under the framework, Japan and the EU will work together to diversify supply chains for rare earth minerals in the face of China's export restrictions on the elements crucial for the production of smartphones and other high-tech products, according to the sources. They will also align subsidy conditions for environmental technology such as electric vehicle and hydrogen production to promote fair competition for manufacturers and reduce development costs. On the trade front, the two sides will seek to promote reform of the World Trade Organization that is deemed dysfunctional, with the United States dissatisfied with the global body's response to addressing Chinese trade practices and other issues. They will also seek to collaborate with the "Global South" emerging and developing economies as partners sharing values of free and fair trade as well as the rule of law, the sources said. The EU is also eager to cooperate with a vast trans-Pacific free trade agreement involving Japan and 10 other nations, plus Britain that joined the accord in 2023. Some inside the bloc have called for joining efforts in rulemaking, as members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership weigh better business environment for digital trade and climate change countermeasures.

China says it may speed up rare earths application approvals from EU
China says it may speed up rare earths application approvals from EU

Nikkei Asia

time4 hours ago

  • Nikkei Asia

China says it may speed up rare earths application approvals from EU

SHANGHAI (Reuters) -- China is willing to accelerate the examination and approval of rare earth exports to European Union companies and will also deliver a verdict on its trade investigation of EU brandy imports by July 5, its commerce ministry said on Saturday. Price commitment consultations between China and the EU on Chinese-made electric vehicles exported to the EU have also entered a final stage, but efforts from both sides are still needed, according to a statement on the Chinese commerce ministry's website.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store