U.S. GoldMining Expands Western High-Grade Zone at Whistler Gold-Copper Deposit, Alaska: Intersects 458 meters at 0.75 g/t Gold Equivalent, Including 48 m at 1.23 g/t AuEq and 116 m at 1.00 g/t AuEq
ANCHORAGE, AK, Feb. 3, 2025 /CNW/ - U.S. GoldMining Inc. (NASDAQ: USGO) ("U.S. GoldMining" or the "Company") is pleased to announce new assay results from its 2024 confirmatory diamond core drilling program completed at the Whistler Gold-Copper Project (the "Project") in Alaska, U.S.A. The results reported in this news release highlight WH24-03 & WH24-04, which build upon the earlier success of the 2024 drill program including multiple broad intercepts and the best drill hole in the history of the property to date.
Tim Smith, Chief Executive Officer of U.S. GoldMining, commented: "As a follow-up to the high-grade previously intersected in the western portion of the Whistler Deposit (WH24-02: 120 m at 1.00 g/t AuEq), WH24-04 was drilled to further delineate and target a potential extension of this high-grade zone, with the goal of further upgrading the existing mineral resource profile of the Project. The assays returned for WH24-04, which exceed the grades seen in prior drilling, demonstrate that metal grade improves with depth in the western portion of the Whistler Deposit, as predicted. This further demonstrates the Company's understanding of the zonation and controls on mineralization and why we see the potential to expand the existing Project mineral resource estimate ("MRE") beyond the current 6.48 million gold equivalent ounces in indicated resources, and further 4.16 million gold equivalent ounces in inferred resources. These drill results build towards our ongoing objectives of optimizing the large, high-quality and robust MRE, while concurrently conducting ongoing engineering and environmental studies. On the back of these latest drill results, we're very excited heading into the 2025 exploration season. In addition to our strong local and state support, Whistler is also now positioned to see greater federal support following President Trump's Executive Order dated January 20, 2025, "Unleashing Alaska's Extraordinary Resource Potential."
Selected Drill Highlights:
WH24-04 confirmed and extended the high-grade mineralization located within the western portion of the Whistler Deposit, which was initially intersected in WH24-02 (see news release dated November 18, 2024):
Main Zone intercept of 458 meters ("m") at 0.46 grams per tonne ("g/t") gold ("Au"), 0.16% copper ("Cu") and 1.66 g/t silver ("Ag"), or 0.75 g/t gold equivalent ("AuEq")*, from 224 m to 682 m depth down hole;
Including higher-grade intercepts:
48 m at 1.23 g/t AuEq (0.61 g/t Au, 0.34% Cu and 2.19 g/t Ag) from 260 m depth; and
50 m at 0.98 g/t AuEq (0.73 g/t Au, 0.13% Cu and 1.50 g/t Ag) from 406 m depth; and
116 m at 1.00 g/t AuEq (0.76 g/t Au, 0.13% Cu and 1.75 g/t Ag) from 508 m depth.
WH24-03 tested the deep northwest quadrant of the Whistler Deposit:
12.7 m at 1.96 g/t AuEq (1.30 g/t Au, 0.35% Cu, 2.37 g/t Ag) from 40 meters depth.
139.9 m at 0.47 g/t AuEq (0.21 g/t Au, 0.14% Cu, 0.97 g/t Ag) from 385 meters depth, including;
28 m at 0.85 g/t AuEq (0.41 g/t Au, 0.24% Cu, 1.74 g/t Ag) from 401 meters depth.
Assays remain pending for one additional drill hole from the Company's 2024 drilling program.
*See Table 1 for further information.
2024 Drilling Program
As reported on September 30, 2024, the Company completed six diamond core holes for 4,006 meters during the 2024 field season at the Project. Drilling at the Whistler Deposit (see Figure 1) was aimed at further delineating and extending areas of high-grade mineralization within deeper portions of the Whistler Deposit, building upon the success of the 2023 drilling program, which included a standout drill intercept of 652.5 m at 1.00 g/t AuEq, comprised of 0.73 g/t Au, 0.16% Cu and 1.5 g/t Ag from 7.0 m depth to 659.5 m down hole (reported in drill hole WH23-03; see news release dated September 30, 2024).
Drilling Results Discussion
Whistler Deposit Drilling 2024
The western portion of the Whistler Deposit (see Figure 2) is relatively under drilled with respect to its potential for expansion of mineralization and improved delineation of higher grade mineralization. It follows that the Company targeted this region in its 2024 drilling campaign. This focus also followed up on WH23-02, drilled in 2023, which demonstrated the potential to extend mineralization southwards along strike in the southwest quadrant of the Deposit, intersecting 142.3 m at 0.51 g/t AuEq from 305 m depth down hole (see news release dated January 16, 2024), and containing mineralization with a low gold:copper ratio and associated clay mineralogy indicative of relatively cooler and shallow mineralization. WH23-02 was thus interpreted to over-lie a hydrothermal center, which could contain deeper higher grade Au-Cu mineralization.
Furthermore, WH24-02, drilled in 2024 (see news release dated November 18, 2024), returned additional positive results including a high-grade intercept of 120 m at 1.00 g/t AuEq, also testing the under-drilled western portion of the Whistler Deposit. The drill specifically targeted a position directly above a zone of stockwork quartz veining, interpreted as high temperature 'deep early' quartz veins. Such deep early quartz veins indicate the location of hydrothermal fluid ascent paths which brought Au-Cu up from below during the mineralization process. Thus, high grade mineralization was correctly postulated to occur between these geologically diagnostic zones, that is, above the deep early quartz veins, but below the relatively cool, low Au:Cu ratio mineralization seen in WH23-02.
Following confirmation of this geological model (based on the positive results of WH24-02), the Company subsequently targeted additional under-drilled areas in the Whistler Deposit using these criteria to vector towards potentially higher grade mineralization.
WH24-04 thus targeted 250 m vertically beneath WH23-02 and approximately 100 m to the south of the deep early quartz veining, to further test this geologic hypothesis of predictable high-grade zonation and to potentially extend mineralization into an under-drilled portion of the deposit. As predicted, WH24-04 subsequently intersected increasing gold:copper ratio down the drill hole, and over a total mineralized envelope of 591.00 meters at 0.66 g/t AuEq (0.37 g/t Au, 0.15% Cu and 1.48 g/t Ag) starting from 91 meters depth downhole. This mineralization intercept included, within the deeper portion of the envelope, a number of broad high grade zones (see Table 1 for details):
48 m at 1.23 g/t AuEq (0.61 g/t Au, 0.34% Cu and 2.19 g/t Ag) from 260 m downhole;
50 m at 0.98 g/t AuEq (0.73 g/t Au, 0.13% Cu and 1.50 g/t Ag) from 406 m downhole; and
116 m at 1.00 g/t AuEq (0.76 g/t Au, 0.13% Cu and 1.75 g/t Ag) from 508 m downhole.
WH24-03 was designed to test the deep center-north of the Whistler Deposit. The upper part of the hole was primarily designed to infill poorly defined zones of copper-gold mineralization, and the deeper section designed to test a deep exploration target predicated on an observed zone of elevated molybdenum mineralization delineated in previous drilling, which suggested potential for higher grade gold-copper mineralization below this elevated molybdenum zone.
The upper part of the hole intersected post-mineralization late-stage porphyry ("LSP") dykes striking at a shallow angle to the drill azimuth, with the exception of a short interval of high-grade mineralization located between LSP dykes, which returned 12.7 m at 1.96 g/t AuEq (1.30 g/t Au, 0.35% Cu, 2.37 g/t Ag) from 40 meters depth down hole.
The middle section of the drill hole confirmed modelled mineralization grades hosted in Intermineral Porphyry, comprising 139.9 m at 0.47 g/t AuEq (0.21 g/t Au, 0.14% Cu, 0.97 g/t Ag) from 385.08 meters down hole, and including 28 m at 0.85 g/t AuEq (0.41 g/t Au, 0.24% Cu, 1.74 g/t Ag) from 401 meters down hole.
In the lower portion of WH24-03 the postulated higher grade gold-copper mineralization below the elevated molybdenum zone was not intersected, however a newly defined zone of deep early quartz veins with three broad zones of low-grade mineralization was intercepted as follows:
36 m at 0.29 g/t AuEq (0.08 g/t Au, 0.12% Cu and 1.08 g/t Ag) from 643 m depth;
36 m at 0.40 g/t AuEq (0.20 g/t Au, 0.11% Cu and 1.23 g/t Ag) from 731 m depth; and
49 m at 0.28 g/t AuEq (0.18 g/t Au, 0.05% Cu and 1.90 g/t Ag) from 868 m depth.
As successfully demonstrated with WH24-02 and WH24-04, the deep early quartz veins potentially underly zones of high-grade gold-copper mineralization. Thus, the region directly overlying this newly identified zone of deep early quartz veining in the lower portion of WH24-03, represents a potential deep target for future follow-up drilling.
Table 1 – Project drill assay intercepts from the 2024 drilling program, received as of February 3, 2025. Bold intervals correspond with those reported in the 'Selected Drill Highlights' section above.
Hole Number
Interval From(m)
Interval To(m)
Core Length(m)
Gold Grade(g/t)
Copper Grade (%)
Silver Grade (g/t)
AuEq (g/t)*
Lead Grade (%)
Zinc Grade (%)
WH23-03-EXT
0.41
717.00
716.59
0.68
0.15
1.40
0.93
-
-
Including
7.00
659.46
652.46
0.73
0.16
1.50
1.00
-
-
Including
131.00
307.00
176.00
1.24
0.19
1.66
1.55
-
-
And
373.50
423.00
49.50
0.92
0.10
1.82
1.10
-
-
And
441.00
457.00
16.00
1.03
0.20
1.64
1.36
-
-
And
480.00
501.00
21.00
0.80
0.35
2.11
1.37
-
-
And
523.00
539.00
16.00
0.83
0.30
1.14
1.31
-
-
And
575.00
632.00
57.00
1.07
0.17
1.18
1.36
-
-
WH23-03-EXT
698.03
717.00
18.97
0.52
0.11
1.02
0.70
-
-
WH24-01
107.00
109.00
2.00
0.45
-
8.60
0.58
0.61
3.07
WH24-01
147.00
151.00
4.00
0.28
-
7.10
0.42
0.44
1.20
WH24-01
159.00
161.00
2.00
0.64
-
4.50
0.72
0.29
1.59
WH24-01
249.00
266.00
17.00
0.33
0.07
41.97
0.45
0.33
0.75
Including
249.00
253.00
4.00
0.78
0.22
171.55
1.12
1.19
2.53
WH24-01
280.60
300.00
19.40
0.31
-
1.81
0.38
0.12
0.40
Including
284.00
286.00
2.00
1.23
-
4.70
1.32
0.37
1.27
WH24-01
311.00
372.38
61.38
0.36
0.09
4.43
0.53
0.14
0.39
Including
321.00
362.00
41.00
0.41
0.11
5.43
0.61
0.15
0.49
WH24-02
227.00
500.96
273.96
0.48
0.12
0.86
0.71
-
-
Including
291.00
444.00
153.00
0.65
0.14
0.74
0.90
-
-
Including
291.00
411.00
120.00
0.72
0.16
0.83
1.00
-
-
Including
297.00
337.00
40.00
0.82
0.25
1.13
1.28
-
-
And
357.00
377.00
20.00
0.96
0.16
0.93
1.26
-
-
WH24-03
40.00
52.74
12.74
1.30
0.35
2.37
1.96
-
-385.08
525.00
139.92
0.21
0.14
0.97
0.47
-
-
Including
401.00
429.00
28.00
0.41
0.24
1.74
0.85
-
-643.00
679.00
36.00
0.08
0.12
1.08
0.29
-
-731.00
767.00
36.00
0.20
0.11
1.23
0.40
-
-868.00
917.00
49.00
0.18
0.05
1.90
0.28
-
-
WH24-04
91.00
682.00
591.00
0.37
0.15
1.48
0.66
-
-
Including
224.00
682.00
458.00
0.46
0.16
1.66
0.75
-
-
Including
260.00
308.00
48.00
0.61
0.34
2.19
1.23
-
-
And
406.00
456.00
50.00
0.73
0.13
1.50
0.98
-
-
And
508.00
624.00
116.00
0.76
0.13
1.75
1.00
-
-
Notes:
WH23-03-EXT drilled down-plunge to test the deeper extents of mineralization within the Whistler Deposit eastern high-grade core, therefore the mineralized intervals reported are not representative of true width. The mineralized intercepts within WH24-01 are estimated to be approximately two-thirds of true width. WH24-02 and WH24-03 drilled oblique to dip and strike to test the vertical profile of mineralization, therefore the mineralized intervals reported are not representative of true width. WH24-04 tested obliquely across strike and to depth to test the vertical profile of mineralization, thus the mineralized intervals reported are estimated to be approximately half to two-thirds of true width.
*AuEq is calculated consistent with the methodology outlined in the report summary titled "S-K 1300 Technical Report Summary Initial Assessment for the Whistler Project, South Central Alaska" with an effective date of September 12, 2024, and the technical report titled "NI 43-101 2024 Updated Mineral Resource Estimate for the Whistler Project, South Central Alaska" with an effective date of September 12, 2024, each available under the Company's profile at www.sec.gov and www.sedarplus.ca (collectively, the "Technical Reports"). Specifically, for drilling reported prior to the 2024 MRE update (WH23-03-EXT and WH24-01): below 10g/t Ag: AuEq=Au + Cu*1.5733 +0.0108Ag, and above 10g/t Ag: AuEq=Au + Cu*1.5733. For drilling reported subsequent to the 2024 MRE update (WH24-02, -03 & -04): below 10g/t Ag: AuEq=Au + (Cu%*1.771) + (Ag*0.0113), and above 10g/t Ag: AuEq=Au + (Cu%*1.771). AuEq calculations do not include Pb and Zn as it is unknown whether these metals can be recovered.
Table 2 – Project 2023 & 2024 drill hole collar location coordinates.
Hole Number
Easting Meters(UTM Zone 18)
Northing Meters(UTM Zone 18)
Elevation(m above sea level)
Depth (m)
Azimuth(Degrees)
Dip (Degrees)
Status
WH23-01
518,782
6,871,260
886.0
467.87
140.80
- 49.0
All assays received
WH23-02
518,779
6,871,253
886.0
605.64
229.20
- 60.1
All assays received
WH23-03-EXT
518,776
6,871,253
886.0
874.50
189.20
- 82.9
All assays received
WH23-04
520,193
6,869,142
352.0
560.83
134.80
- 78.0
All assays received
WH24-01
520,494
6,871,260
497.0
445.77
14.63
- 46.9
All assays received
WH24-02
518,452
6,871,362
849.0
716.30
135.43
- 75.2
All assays received
WH24-03
518,746
6,871,335
859.0
961.9
309.69
- 80.1
All assays received
WH24-04
518,680
6,871,248
876.0
832.20
185.85
- 78.0
All assays received
WH24-05
520,495
6,871,258
497.0
777.85
184.37
- 55.3
Assays Pending
Technical Information
Tim Smith, P.Geo., Chief Executive Officer of U.S. GoldMining, has supervised the preparation of this news release and has reviewed and approved the scientific and technical information contained herein. Mr. Smith is a "qualified person" as defined in Canadian National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
For further details regarding the Project and the mineral resource estimates reported herein, please refer to the Technical Reports.
Data Verification
For the Project drill core sampling program, samples were taken from NQ/HQ diameter core by sawing the drill core in half, with one-half sent to Bureau Veritas Commodities Canada Ltd. ("BV") in Fairbanks, Alaska, for sample preparation, then to BV's analytical laboratory in Vancouver, Canada for assaying, and the other half of the core is retained at the site for future reference. Sample lengths downhole were generally 2.0 m, except where samples were taken to honor geological contacts.
BV is a certified commercial laboratory and is independent of U.S. GoldMining. The Company has implemented a quality assurance and quality control program for the sampling and analysis of drill core samples, including duplicates, mineralized standards and blank samples for each batch of core samples. The gold analyses were completed by lead collection fire assay fusion with AAS finish (FA430 method) on 30 grams test weight. Copper, silver and other base metals assays (total suite of 45 elements) were assayed by 4-acid digestion and ICP-MS analysis (MA200 method) on 0.25 grams test weight.
About U.S. GoldMining Inc.
U.S. GoldMining Inc. is an exploration and development company focused on advancing the 100% owned Whistler Gold-Copper Project, located 105 miles (170 kilometers) northwest of Anchorage, Alaska, U.S.A. The Whistler Project consists of several gold-copper porphyry deposits and exploration targets within a large regional land package entirely on State of Alaska Mining claims totaling approximately 53,700 acres (217.5 square kilometers). The Whistler Project Mineral Resource Estimate comprises 294 Mt at 0.68 g/t AuEq for 6.48 Moz AuEq Indicated, plus 198 Mt at 0.65 g/t AuEq for 4.16 Moz AuEq Inferred.
Visit www.usgoldmining.us for more information, including high resolution figures.
Forward-Looking Statements
Except for the statements of historical fact contained herein, the information presented in this news release constitutes "forward-looking statements" within the meaning of the United States federal securities laws and "forward-looking information" within the meaning of applicable Canadian securities laws (collectively, "forward-looking statements"). Such statements include statements with regard to the Company's expectations regarding the Project, including its future potential and planned future programs, and the potential future benefits deriving from the Presidential Executive Order. Words such as "expects", "anticipates", "plans", estimates" and "intends" or similar expressions are intended to identify forward-looking statements. Forward-looking statements are based on U.S. GoldMining's current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict and involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors include, among others, the actual results of future exploration may not confirm expectations, variations in the underlying assumptions associated with the estimation or realization of mineral resources, the availability of capital to fund programs, accidents, labor disputes and other risks of the mining industry including, without limitation, those associated with the environment, delays in obtaining governmental approvals or permits, title disputes other risks inherent in the exploration and development of mineral properties and the other risk factors set forth in the Company's filings with the U.S. Securities and Exchange Commission at.www.sec.gov and Canadian Securities Administrators at www.sedarplus.ca. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release. Forward-looking statements contained in this news release are made as of this date, and U.S. GoldMining does not undertake any duty to update such information except as required under applicable law.
View original content to download multimedia:https://www.prnewswire.com/news-releases/us-goldmining-expands-western-high-grade-zone-at-whistler-gold-copper-deposit-alaska-intersects-458-meters-at-0-75-gt-gold-equivalent-including-48-m-at-1-23-gt-aueq-and-116-m-at-1-00-gt-aueq-302365750.html
SOURCE U.S. GoldMining Inc.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/February2025/03/c6490.html
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
26 minutes ago
- Yahoo
Trump's DOGE efficiency agency says it slashes $25B in federal spending as rehiring begins
The Department of Government Efficiency (DOGE) announced on Wednesday it has decreased its annual non-defense federal obligations by an additional ~1.9% since last month. As of June 8th, annual non-defense federal obligations are down 22.4%, or ~$25B, as compared to 2024, DOGE announced on X. The cut marks an additional ~1.9% reduction from last month's figures, which were announced on May 8. Doge's Greatest Hits: Look Back At The Department's Most High-profile Cuts During Trump's First 100 Days "Cash outlays will follow as obligations come due," DOGE wrote in the post. "Our initiative to reduce wasteful spend, consistent with the DOGE Cost Efficiency Executive Order, continues to bear fruit." On May 14, DOGE announced the current year's non-defense federal obligations were down 20.5% as compared to 2024. Read On The Fox News App The announcement came minutes before Fox News Digital was first to report the Department of Health and Human Services (HHS) is rehiring more than 450 previously fired employees belonging to multiple divisions within the agency's Centers for Disease Control and Prevention (CDC). The rehired CDC employees came from the National Center for HIV, Viral Hepatitis, STD, and Tuberculosis Prevention; the National Center for Environmental Health; the Immediate Office of the Director, and the Global Health Center, according to an HHS official familiar with the matter. HHS Secretary Robert F. Kennedy Jr. told CBS News in April some personnel who were cut shouldn't have been. Doge Ends 108 'Wasteful' Contracts, Including For An 'Executive Transformational Leadership Training Program' "We're reinstating them, and that was always the plan," Kennedy said. "Part of the—at DOGE, we talked about this from the beginning, is we're going to do 80% cuts, but 20% of those are going to have to be reinstated, because we'll make mistakes." In addition to the HHS rehires, the Internal Revenue Service, Food and Drug Administration, State Department, and Department of Housing and Urban Development started rehiring employees let go during DOGE cuts, the Washington Post reported. Doge Takes A Chainsaw To Federal Spending With 7 Major Victories This Week: 'Got To Be Done' Another roadblock this week was a ruling from U.S. District Judge Denise Cote of the Southern District of New York, who ruled to restrict the agency's access to federal databases. The Trump administration previously said DOGE could not work effectively with the limitations, noting DOGE needed to access Social Security information to root out fraud. Fox News Digital's Alec Schemmel and Danielle Wallace contributed to this article source: Trump's DOGE efficiency agency says it slashes $25B in federal spending as rehiring begins
Yahoo
28 minutes ago
- Yahoo
Stock market today: Dow, S&P 500, Nasdaq futures slip as investors assess easing trade tensions
US stock futures slipped as Wall Street assessed easing tensions between the US and key trading partners as well as softening inflation. Futures attached to the Dow Jones Industrial Average (YM=F) dipped 0.1%. Futures attached to the benchmark S&P 500 (ES=F) and the tech-heavy Nasdaq 100 (NQ=F) fell 0.2%. On Wednesday, Treasury Secretary Scott Bessent told Congress it is "highly likely" that countries engaging in trade negotiations with the US would see an extension of a tariff pause that is already in place on President Trump's most sweeping duties. Bessent's comment came after he returned from London on Tuesday, where representatives from US and China announced the countries had agreed to a proposal that would address critical trade disputes. Read more: The latest on Trump's tariffs Stocks wobbled during the day Wednesday amid the evolving trade news as well as the latest Consumer Price Index (CPI) report, which showed easing inflation pressures. The data puts the Federal Reserve in a tight spot ahead of its policy meeting next week, though analysts expect officials to maintain their wait-and-see approach to interest rate cuts as tariff uncertainty lingers. On Thursday, investors will receive fresh data on wholesale inflation with the release of the Producer Price Index (PPI) report. As earnings season wraps up, Adobe (ADBE) will also share its results. Sign in to access your portfolio
Yahoo
28 minutes ago
- Yahoo
Trump tariffs live updates: Trump says he will set unilateral tariff rates within weeks
President Donald Trump told reporters on Wednesday that he would send letters to trading partners in the next week or two setting unilateral tariff rates. 'At a certain point, we're just going to send letters out. And I think you understand that, saying this is the deal, you can take it or leave it,' the president said at the Kennedy Center in Washington. Soon after introducing steep new tariffs that roiled markets, Trump instituted a pause on his most punishing duties that expires July 9. His latest comment, however, only muddies the waters about what could happen next as the deadline approaches. Earlier on Wednesday, Treasury Secretary Scott Bessent told Congress that it is "highly likely" that the tariff pause would be extended for countries that are negotiating with the administration "in good faith." "There are 18 important trading partners — we are working toward deals on those — and it is highly likely that those countries that are ... negotiating in good faith, we will roll the date forward," Bessent said during testimony before the House Ways and Means Committee. On Tuesday, the US and China agreed to a framework and implementation plan to ease tariff and trade tensions. Trump signaled his approval, saying the deal was "done" pending sign-off from him and Chinese President Xi Jinping. Trump and other US officials indicated the deal should resolve issues between the two countries on rare earths and magnets, though reports later indicated China would only loosen restrictions on rare earth mineral exports for a six-month period. Trump also said the US will allow Chinese students in US colleges, a sticking point that had emerged in the weeks following the countries' mid-May deal in Geneva. Trump said the US would impose a total of 55% tariffs on Chinese goods. Yahoo Finance's Ben Werschkul reports, citing a White House official, that Trump arrived at that figure by adding together an array of preexisting duties and not any new tariffs. Meanwhile, though Trump's most sweeping tariffs continue to face legal uncertainty, on Tuesday, the president received a favorable update. A federal appeals court held a decision saying his tariffs can temporarily stay in effect. The US Court of International Trade had blocked their implementation last month, deeming the method used to enact them "unlawful." Read more: What Trump's tariffs mean for the economy and your wallet Here are the latest updates as the policy reverberates around the world. Treasury Secretary Scott Bessent told House lawmakers on Wednesday that the Trump administration may extend the 90-day tariff pause on some countries in order to continue trade negotiations. When asked if Americans should prepare for another "Liberation Day" on July 9, when the tariff pause ends for most countries, Bessent said that the administration may choose to move the deadline on 18 of the most important trading partners, so long as they make an effort to come to the negotiating table. "We are working toward deals on those, and it is highly likely that [for] those countries — or trading blocs, in the case of the EU — who are negotiating in good faith, we will roll the day forward to continue good faith negotiations," Bessent said (see video below). "If someone is not negotiating, then we will not." A recent report on the drastic decline of US ocean imports serves as an example of how President Trump's increased tariffs on China affected supply chains and several industries as ttalks continue. Reuters reports: Read more here. The Treasury Department says that the US government is successfully using tariffs to decrease the budget deficit by more than $30 billion, largely due to increased customs receipts. Reuters reports: Read more here. China will ease curbs on exports of rare earth minerals for six months as part of a new trade understanding with the US, according to The Wall Street Journal. The move could add more uncertainty for American manufacturers, particularly the auto industry, which has been pushing for easier access. The Journal notes that the move gives China leverage down the line if tensions ratchet back up. From the report: In celebrating the agreement early Wednesday, President Trump noted "any necessary rare earths will be supplied, up front, by China." He did not mention any time limit on loosening those restrictions. Treasury Secretary Scott Bessent, in testimony before Congress on Wednesday, painted Wednesday's agreement as an incremental step on the longer road to a more comprehensive trade deal. "A trade deal today or last night was for a specific goal, and it will be a much longer process," he told a House committee. When asked if current US tariff levels on Chinese imports would not change again, Commerce Secretary Howard Lutnick told CNBC, "You can definitely say that." "We're in a great place with China," Lutnick said Wednesday. While the US-China truce framework is awaiting final word from US President Trump and Chinese President Xi Jinping, Lutnick added, "Both sides are really positive." The agreement is largely viewed as reestablishing the "handshake" that US and Chinese officials reached in Geneva last month, as details on a larger trade pact remain scant. Trump posted on social media this morning that the US has imposed 55% tariffs on China, a number that does not include any new tariffs but instead comprises some preexisting tariffs, Trump's fentanyl tariffs, and 10% "Liberation Day" tariffs. Lutnick touted that, as a result of the two-day talks, the US will gain access to rare earths and magnets, while the Chinese delegation sought to remove the US's export controls. He added that the trade deficit remains an ongoing issue, stating, "We're going to examine how China can do more business with us." May's Consumer Price Index (CPI) report showed inflation pressures eased on a monthly basis despite investor concerns that President Trump's tariffs would accelerate the pace of price increases. The Consumer Price Index (CPI) increased 0.1% on a monthly basis in May and 2.4% on an annual basis, a slight uptick from April's 2.3% gain. Yahoo Finance's Allie Canal reports: Read more here. I would keep an eye on consumer names off the news of a trade deal with China floated by President Trump this morning (see our prior post below). Seeing upticks premarket in heavily China-exposed retailers such as Nike (NKE), Walmart (WMT), Target (TGT), and Abercrombie & Fitch (ANF). The premarket gains here aren't mind-blowing in part because tariffs appear to still be in place. Trump posted on Truth Social: OUR DEAL WITH CHINA IS DONE, SUBJECT TO FINAL APPROVAL WITH PRESIDENT XI AND ME. FULL MAGNETS, AND ANY NECESSARY RARE EARTHS, WILL BE SUPPLIED, UP FRONT, BY CHINA. LIKEWISE, WE WILL PROVIDE TO CHINA WHAT WAS AGREED TO, INCLUDING CHINESE STUDENTS USING OUR COLLEGES AND UNIVERSITIES (WHICH HAS ALWAYS BEEN GOOD WITH ME!). WE ARE GETTING A TOTAL OF 55% TARIFFS, CHINA IS GETTING 10%. RELATIONSHIP IS EXCELLENT! THANK YOU FOR YOUR ATTENTION TO THIS MATTER!" A variety of market observers quickly weighed in hours after Tuesday evening's unveiling to suggest that the deal may not have a lot of meat on the bones — but at least relations are no longer moving in the wrong direction. The talks perhaps underscored how unlikely a comprehensive trade deal is anytime soon, noted AGF Investments Greg Valliere, "but at least relations may not worsen as talks continue throughout the summer." Both sides promised additional talks in the weeks or months ahead, but none have yet been scheduled. Veronique de Rugy, a professor at the Mercatus Center at George Mason University, suggested the talks continued to show China's leverage. "China is hurting, yes—but they still hold the upper hand on critical resources, and they know how to use them." Any lessening of tensions — and freer flow — of these mineral resources in China would be a significant boost to the global economy with China holding outsized leverage in both the reserves and processing capacity of these key building blocks for everything from computers to electric vehicle batteries to medical devices. Likewise, the US offering concessions on export controls would be a significant move after years where successive US administrations have wielded these controls — especially around the design and manufacture of semiconductors — by saying they need to be tight on China for national security reasons. Read more here. May's Consumer Price Index (CPI) report will be released on Wednesday and its expected to show that prices rose a bit faster than in April. Yahoo Finance's Allie Canal breaks down what to look out for and how President Trump's tariffs are impacting what consumers are now paying for goods and services. Read more here. Now that the US-China trade truce is back on track, both sides are keen to ensure it stays that way. China's Vice Premier He Lifeng said both sides need to now 'show the spirit of good faith in abiding by their commitments and jointly safeguard the hard-won results of the dialogue.' Bloomberg News reports: Read more here. Reuters reports: Read more here. Despite the US-China trade truce resuming the pain from President Trump's tariffs remains in China, especially among small exporters. Reuters reports: Read more here. Japan warned Wednesday that tariffs threaten its economic growth, the government said in a monthly report. Reuters reports: Read more here. Reuters reports: Read more here. Reuters reports: Read more here. A federal appeals could said on Tuesday that President Trump's sweeping tariffs can continue for now. This is a significant win for Trump, who introduced tariffs back in March and declared "Liberation Day," as he saw them as a way to free the US from what he called unfair trade practices. Bloomberg News reports: Read more here. Early summer sales for Inditex, the owner of fashion retailer Zara, came in weaker, as the company missed expectations for first quarter sales on Wednesday. President Trump's tariffs have impacted consumer demand in the US and other major markets. Reuters reports: Read more here. After weeks of back and forth, the US and China have agreed on a framework to implement the Geneva consensus that helped ease tariffs. The breakthrough came after two days of talks in London, including a marathon session on Tuesday. US Commerce Secretary Howard Lutnick said both sides had to "get the negativity out" before making progress. 'Now we can go forward to try to do positive trade, growing trade,' he said. As part of the deal, Beijing has promised to speed up shipments of rare earth metals, a crucial component for global auto and defense industries. Washington will ease export controls. This marks the first sign of movement on key issues. The proposal will now be presented to President Trump and China's Xi. Still, the discussions also did little to resolve a long-standing issue: China's trade surplus with the US. 'Markets will likely welcome the shift from confrontation to coordination,' said Charu Chanana, chief investment strategist at Saxo Markets. 'We're not out of the woods yet — it's up to Trump and Xi to approve and enforce the deal.' The meeting was set up after a phone call between the two leaders, following weeks of each side accusing the other of breaking the Geneva commitments. Both countries had used chips, rare earths, student visas and ethane as bargaining tools. Josef Gregory Mahoney, a professor at East China Normal University, said trust, not money, has been the biggest casualty of the trade war. 'We've heard a lot about frameworks,' he said. 'But the fundamental issue remains: Chips versus rare earths. Everything else is a peacock dance.' Bloomberg reports: Read more here. Treasury Secretary Scott Bessent told House lawmakers on Wednesday that the Trump administration may extend the 90-day tariff pause on some countries in order to continue trade negotiations. When asked if Americans should prepare for another "Liberation Day" on July 9, when the tariff pause ends for most countries, Bessent said that the administration may choose to move the deadline on 18 of the most important trading partners, so long as they make an effort to come to the negotiating table. "We are working toward deals on those, and it is highly likely that [for] those countries — or trading blocs, in the case of the EU — who are negotiating in good faith, we will roll the day forward to continue good faith negotiations," Bessent said (see video below). "If someone is not negotiating, then we will not." A recent report on the drastic decline of US ocean imports serves as an example of how President Trump's increased tariffs on China affected supply chains and several industries as ttalks continue. Reuters reports: Read more here. The Treasury Department says that the US government is successfully using tariffs to decrease the budget deficit by more than $30 billion, largely due to increased customs receipts. Reuters reports: Read more here. China will ease curbs on exports of rare earth minerals for six months as part of a new trade understanding with the US, according to The Wall Street Journal. The move could add more uncertainty for American manufacturers, particularly the auto industry, which has been pushing for easier access. The Journal notes that the move gives China leverage down the line if tensions ratchet back up. From the report: In celebrating the agreement early Wednesday, President Trump noted "any necessary rare earths will be supplied, up front, by China." He did not mention any time limit on loosening those restrictions. Treasury Secretary Scott Bessent, in testimony before Congress on Wednesday, painted Wednesday's agreement as an incremental step on the longer road to a more comprehensive trade deal. "A trade deal today or last night was for a specific goal, and it will be a much longer process," he told a House committee. When asked if current US tariff levels on Chinese imports would not change again, Commerce Secretary Howard Lutnick told CNBC, "You can definitely say that." "We're in a great place with China," Lutnick said Wednesday. While the US-China truce framework is awaiting final word from US President Trump and Chinese President Xi Jinping, Lutnick added, "Both sides are really positive." The agreement is largely viewed as reestablishing the "handshake" that US and Chinese officials reached in Geneva last month, as details on a larger trade pact remain scant. Trump posted on social media this morning that the US has imposed 55% tariffs on China, a number that does not include any new tariffs but instead comprises some preexisting tariffs, Trump's fentanyl tariffs, and 10% "Liberation Day" tariffs. Lutnick touted that, as a result of the two-day talks, the US will gain access to rare earths and magnets, while the Chinese delegation sought to remove the US's export controls. He added that the trade deficit remains an ongoing issue, stating, "We're going to examine how China can do more business with us." May's Consumer Price Index (CPI) report showed inflation pressures eased on a monthly basis despite investor concerns that President Trump's tariffs would accelerate the pace of price increases. The Consumer Price Index (CPI) increased 0.1% on a monthly basis in May and 2.4% on an annual basis, a slight uptick from April's 2.3% gain. Yahoo Finance's Allie Canal reports: Read more here. I would keep an eye on consumer names off the news of a trade deal with China floated by President Trump this morning (see our prior post below). Seeing upticks premarket in heavily China-exposed retailers such as Nike (NKE), Walmart (WMT), Target (TGT), and Abercrombie & Fitch (ANF). The premarket gains here aren't mind-blowing in part because tariffs appear to still be in place. Trump posted on Truth Social: OUR DEAL WITH CHINA IS DONE, SUBJECT TO FINAL APPROVAL WITH PRESIDENT XI AND ME. FULL MAGNETS, AND ANY NECESSARY RARE EARTHS, WILL BE SUPPLIED, UP FRONT, BY CHINA. LIKEWISE, WE WILL PROVIDE TO CHINA WHAT WAS AGREED TO, INCLUDING CHINESE STUDENTS USING OUR COLLEGES AND UNIVERSITIES (WHICH HAS ALWAYS BEEN GOOD WITH ME!). WE ARE GETTING A TOTAL OF 55% TARIFFS, CHINA IS GETTING 10%. RELATIONSHIP IS EXCELLENT! THANK YOU FOR YOUR ATTENTION TO THIS MATTER!" A variety of market observers quickly weighed in hours after Tuesday evening's unveiling to suggest that the deal may not have a lot of meat on the bones — but at least relations are no longer moving in the wrong direction. The talks perhaps underscored how unlikely a comprehensive trade deal is anytime soon, noted AGF Investments Greg Valliere, "but at least relations may not worsen as talks continue throughout the summer." Both sides promised additional talks in the weeks or months ahead, but none have yet been scheduled. Veronique de Rugy, a professor at the Mercatus Center at George Mason University, suggested the talks continued to show China's leverage. "China is hurting, yes—but they still hold the upper hand on critical resources, and they know how to use them." Any lessening of tensions — and freer flow — of these mineral resources in China would be a significant boost to the global economy with China holding outsized leverage in both the reserves and processing capacity of these key building blocks for everything from computers to electric vehicle batteries to medical devices. Likewise, the US offering concessions on export controls would be a significant move after years where successive US administrations have wielded these controls — especially around the design and manufacture of semiconductors — by saying they need to be tight on China for national security reasons. Read more here. May's Consumer Price Index (CPI) report will be released on Wednesday and its expected to show that prices rose a bit faster than in April. Yahoo Finance's Allie Canal breaks down what to look out for and how President Trump's tariffs are impacting what consumers are now paying for goods and services. Read more here. Now that the US-China trade truce is back on track, both sides are keen to ensure it stays that way. China's Vice Premier He Lifeng said both sides need to now 'show the spirit of good faith in abiding by their commitments and jointly safeguard the hard-won results of the dialogue.' Bloomberg News reports: Read more here. Reuters reports: Read more here. Despite the US-China trade truce resuming the pain from President Trump's tariffs remains in China, especially among small exporters. Reuters reports: Read more here. Japan warned Wednesday that tariffs threaten its economic growth, the government said in a monthly report. Reuters reports: Read more here. Reuters reports: Read more here. Reuters reports: Read more here. A federal appeals could said on Tuesday that President Trump's sweeping tariffs can continue for now. This is a significant win for Trump, who introduced tariffs back in March and declared "Liberation Day," as he saw them as a way to free the US from what he called unfair trade practices. Bloomberg News reports: Read more here. Early summer sales for Inditex, the owner of fashion retailer Zara, came in weaker, as the company missed expectations for first quarter sales on Wednesday. President Trump's tariffs have impacted consumer demand in the US and other major markets. Reuters reports: Read more here. After weeks of back and forth, the US and China have agreed on a framework to implement the Geneva consensus that helped ease tariffs. The breakthrough came after two days of talks in London, including a marathon session on Tuesday. US Commerce Secretary Howard Lutnick said both sides had to "get the negativity out" before making progress. 'Now we can go forward to try to do positive trade, growing trade,' he said. As part of the deal, Beijing has promised to speed up shipments of rare earth metals, a crucial component for global auto and defense industries. Washington will ease export controls. This marks the first sign of movement on key issues. The proposal will now be presented to President Trump and China's Xi. Still, the discussions also did little to resolve a long-standing issue: China's trade surplus with the US. 'Markets will likely welcome the shift from confrontation to coordination,' said Charu Chanana, chief investment strategist at Saxo Markets. 'We're not out of the woods yet — it's up to Trump and Xi to approve and enforce the deal.' The meeting was set up after a phone call between the two leaders, following weeks of each side accusing the other of breaking the Geneva commitments. Both countries had used chips, rare earths, student visas and ethane as bargaining tools. Josef Gregory Mahoney, a professor at East China Normal University, said trust, not money, has been the biggest casualty of the trade war. 'We've heard a lot about frameworks,' he said. 'But the fundamental issue remains: Chips versus rare earths. Everything else is a peacock dance.' Bloomberg reports: Read more here. Sign in to access your portfolio