Latest news with #critical minerals
Yahoo
3 days ago
- Business
- Yahoo
Will China loosen its grip on critical mineral exports?
-- Capital Economics analysts questioned in a note to clients on Thursday whether China will loosen its grip on critical mineral exports after June trade data showed a pickup in exports of rare earth elements. Despite the rise, the firm added that shipments remain well below pre-Liberation Day levels. The analysts note that following pushback from the U.S. and other trading partners, China agreed to ramp up the pace of export license approvals in June. The June trade data is said to suggest that Beijing followed through on the commitment, with exports of rare earth elements more than doubling between May and June. However, 'China's rare earth exports remain weak,' said Capital Economics, stating they are almost 40% lower than June last year. In addition, exports of other critical minerals have continued to fall, according to the firm. 'While declines in rare earth exports following April's export controls were particularly sharp, China's exports of critical minerals have been falling sharply since the start of this year,' added the firm. While Trump announced last month that China had agreed to supply 'full magnets, and any necessary rare earths… up front,' Capital Economics said the signals from China have been less positive. 'China is showing little sign of being willing to loosen its control of the world's supply of critical metals,' commented the firm. They explain that China's export controls don't just serve as a tool in trade negotiations, but also have 'broader strategic aims,' giving Chinese manufacturers a competitive edge in strategic industries. 'The upshot is that, while China's relationship with the U.S. seems to be warming, Beijing will continue to keep a tight grip on critical mineral exports,' concluded Capital Economics. Related articles Will China loosen its grip on critical mineral exports? Clients buying into summer rally, bracing for later pullback, says BofA's Hartnett After soaring 149%, this stock is back in our AI's favor - & already +25% in July
Khaleej Times
3 days ago
- Business
- Khaleej Times
Pakistan says it's close to US trade deal, Washington gives no timeline
Pakistani Foreign Minister Ishaq Dar said on Friday the United States and Pakistan were "very close" to a trade deal that could come within days, but comments from the U.S. after Dar met with Secretary of State Marco Rubio mentioned no timeline. "I think we are very close to finalizing a deal with U.S. Our teams have been here in Washington, discussing, having virtual meetings and a committee has been tasked by the prime minister to fine-tune now," Dar said in a discussion at the Atlantic Council think tank in Washington. "It's not going to be months, not even weeks, I would say (just) days," he said. Under U.S. President Donald Trump, Washington has attempted to renegotiate trade agreements with many countries that he threatened with tariffs over what he calls unfair trade relations. Many economists dispute Trump's characterization. The U.S. State Department and Pakistan's foreign ministry, in separate statements after Rubio's meeting with Dar, said the two stressed in their discussion the importance of expanding trade and ties in critical minerals and mining. A post by Rubio on X after the meeting and the State Department's statement mentioned no timeline for finalizing a trade deal. The Pakistan foreign ministry also said Dar "appreciated the pivotal role" by Trump and Rubio "in de-escalating tensions between Pakistan and India by facilitating a ceasefire." The State Department statement did not mention India. Trump has repeatedly taken credit for the India-Pakistan ceasefire he announced on social media on May 10 after Washington held talks with both sides. India disputes Trump's claims that the ceasefire resulted from his intervention and trade threats. India's position is that New Delhi and Islamabad must resolve problems directly with no outside involvement. An April 22 militant attack in India-administered Kashmir killed 26 men and sparked heavy fighting between the nuclear-armed Asian neighbors in the latest escalation of a decades-old rivalry. India struck Pakistan on May 7 and the two nations exchanged hostilities, killing dozens across three days. The ceasefire was declared on May 10. New Delhi blamed the April attack on Pakistan, which denied responsibility and called for a neutral investigation. Washington condemned the attack but did not blame Islamabad.
Free Malaysia Today
3 days ago
- Business
- Free Malaysia Today
Pakistan says it's close to US trade deal, Washington gives no timeline
US secretary of state Marco Rubio shakes the hand of Pakistani foreign minister Ishaq Dar in Washington. (AP pic) WASHINGTON : Pakistani foreign minister Ishaq Dar said on Friday the US and Pakistan were 'very close' to a trade deal that could come within days, but comments from the US after Dar met with secretary of state Marco Rubio mentioned no timeline. 'I think we are very close to finalising a deal with U.S. Our teams have been here in Washington, discussing and having virtual meetings, and a committee has been tasked by the prime minister to fine-tune now,' Dar said in a discussion at the Atlantic Council think tank in Washington. 'It's not going to be months, not even weeks, I would say (just) days,' he said. Under US President Donald Trump, Washington has attempted to renegotiate trade agreements with many countries that he threatened with tariffs over what he calls unfair trade relations. Many economists dispute Trump's characterisation. The US state department and Pakistan's foreign ministry, in separate statements after Rubio's meeting with Dar, said the two stressed in their discussion the importance of expanding trade and ties in critical minerals and mining. A post by Rubio on X after the meeting and the state department's statement mentioned no timeline for finalising a trade deal. The Pakistan foreign ministry also said Dar 'appreciated the pivotal role' played by Trump and Rubio 'in de-escalating tensions between Pakistan and India by facilitating a ceasefire.' The state department statement did not mention India. Trump has repeatedly taken credit for the India-Pakistan ceasefire he announced on social media on May 10 after Washington held talks with both sides. India disputes Trump's claims that the ceasefire resulted from his intervention and trade threats. India's position is that New Delhi and Islamabad must resolve problems directly with no outside involvement. An April 22 militant attack in India-administered Kashmir killed 26 men and sparked heavy fighting between the nuclear-armed Asian neighbours in the latest escalation of a decades-old rivalry. India struck Pakistan on May 7, and the two nations exchanged hostilities, killing dozens across three days. The ceasefire was declared on May 10. New Delhi blamed the April attack on Pakistan, which denied responsibility and called for a neutral investigation. Washington condemned the attack but did not blame Islamabad.
Yahoo
3 days ago
- Business
- Yahoo
Pakistan says trade deal with US could come within days, Trump admin offers no timeline
Pakistani Foreign Minister Ishaq Dar said a trade deal with the U.S. is "very close" after meeting with Secretary of State Marco Rubio on Friday, but officials in Washington did not offer a timeline. "I think we are very close to finalizing a deal with the U.S.," Dar said at the Atlantic Council think tank on Friday. "Our teams have been here in Washington, discussing, having virtual meetings and a committee has been tasked by the prime minister to fine-tune now." "It's not going to be months, not even weeks, I would say [just] days," he added. White House Says Canada Has Been 'Difficult' As Trade Deadline Looms The Trump administration has attempted to renegotiate trade agreements with many countries after announcing tariffs against dozens within the past few months. The State Department and Pakistan's foreign ministry, in separate statements after Rubio's meeting with Dar, said the two leaders talked about the importance of expanding trade and ties in critical minerals and mining. Read On The Fox Business App Trump Considering Meeting With China's Xi In The Near Future Amid Possible Tariff Pause Extension A timeline for finalizing a trade deal was not mentioned in Rubio's social media post or by the State Department. The Pakistani foreign ministry also said Dar "appreciated the pivotal role" of President Donald Trump and Rubio "in de-escalating tensions between Pakistan and India by facilitating a ceasefire." The statement from the State Department did not mention the conflict with India. Trump has repeatedly taken credit for the ceasefire between India and Pakistan that he announced on social media on May 10 after U.S. officials held talks with both countries. Trump's claims that the ceasefire was sparked by his intervention and trade threats have been disputed by India, who added that problems with Pakistan must be resolved without outside involvement. Reuters contributed to this article source: Pakistan says trade deal with US could come within days, Trump admin offers no timeline Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
4 days ago
- Business
- Reuters
Pakistan says it's close to US trade deal, Washington gives no timeline
WASHINGTON, July 25 (Reuters) - Pakistani Foreign Minister Ishaq Dar said on Friday the United States and Pakistan were "very close" to a trade deal that could come within days, but comments from the U.S. after Dar met with Secretary of State Marco Rubio mentioned no timeline. "I think we are very close to finalizing a deal with U.S. Our teams have been here in Washington, discussing, having virtual meetings and a committee has been tasked by the prime minister to fine-tune now," Dar said in a discussion at the Atlantic Council think tank in Washington. "It's not going to be months, not even weeks, I would say (just) days," he said. Under U.S. President Donald Trump, Washington has attempted to renegotiate trade agreements with many countries that he threatened with tariffs over what he calls unfair trade relations. Many economists dispute Trump's characterization. The U.S. State Department and Pakistan's foreign ministry, in separate statements after Rubio's meeting with Dar, said the two stressed in their discussion the importance of expanding trade and ties in critical minerals and mining. A post by Rubio on X after the meeting and the State Department's statement mentioned no timeline for finalizing a trade deal. The Pakistan foreign ministry also said Dar "appreciated the pivotal role" by Trump and Rubio "in de-escalating tensions between Pakistan and India by facilitating a ceasefire." The State Department statement did not mention India. Trump has repeatedly taken credit for the India-Pakistan ceasefire he announced on social media on May 10 after Washington held talks with both sides. India disputes Trump's claims that the ceasefire resulted from his intervention and trade threats. India's position is that New Delhi and Islamabad must resolve problems directly with no outside involvement. An April 22 militant attack in India-administered Kashmir killed 26 men and sparked heavy fighting between the nuclear-armed Asian neighbors in the latest escalation of a decades-old rivalry. India struck Pakistan on May 7 and the two nations exchanged hostilities, killing dozens across three days. The ceasefire was declared on May 10. New Delhi blamed the April attack on Pakistan, which denied responsibility and called for a neutral investigation. Washington condemned the attack but did not blame Islamabad.
