Trump officials say the critical minerals topped a new trade deal for the United States of China – national

Washington and Beijing I have fallen commerce US Treasury Secretary Scott Beesen said on Friday that the agreement that will make it easier for American companies to obtain rare ground minerals and minerals from China, which is necessary to manufacture and produce fine chips.

The agreement comes after China’s retaliation for the sharp import tariff imposed by the Trump administration on Chinese goods and moved to slow the export of rare and magnetic minerals that are intensified by American industrial interests.

Bessin said in “Al -Sabah with Maria” to the Fox Business Network that Trump and Chinese President Xi Jinping “made a phone call” previously “and then our teams met in London, stealing this, and I am sure that we, as we agreed, will flow the magnet.”

“Part of the agreement was a tariff and rare ground magnets began to return to the United States,” Pesin said. “They formed the essence of many of our industrial base. They did not flow at the previously agreed speed.”

His comments follow the president Donald Trump Two weeks ago, an agreement with China announced that it would reduce the export of magnets and rare ground minerals.

This agreement wiped the way for trade talks to continue. The United States has previously suspended some sales to China from critical American technologies, such as the ingredients used for jet engines and semi -conductors. It also agreed to stop trying to cancel the visas of Chinese citizens in American universities.

“What we see here is to cancel the escalation,” added Bessent from critical metal exports.

Trade Minister Howard Lootnick Bloomberg told a TV that the deal had signed earlier this week.

The Chinese Ministry of Commerce said on Friday that the two sides “also confirmed the details of the framework”, when answering a question about whether China will accelerate rare land exports to the United States and if the United States will remove some restrictions on China.

The ministry said: “, according to the law, China will review and agree on the export requests for controlled elements. In turn, the United States will raise a series of restrictions imposed on China.”

Initial talks in Geneva early led to both sides, postponing the huge customs tariffs that threatened to freeze a lot of trade between the two countries. Talks in London later placed a framework for negotiations, and the deal mentioned by Trump appears to give this agreement – which represents the stage of Bessent’s comments on Friday.

In London, the export controls for minerals imposed customs tariffs in commercial negotiations after China imposed in April the requirements for allowing seven rare ground elements, according to a Chinese law that applies to all exports, and not only those who are associated with the American market.

As the permit took 45 days, the new requirements stopped stopping the shipments, threatening to disrupt the production of cars, robots, wind turbines and other high -tech products in the United States and around the world. Meanwhile, the United States has taken restrictions on high -tech exports to China.

Through the last agreement, China does not remove the requirements for allowing rare land but it reserves flexibility in contacting up or down the approval process as needed.

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Sun Yun, director of the China Program at the Tanchonchon Research Center in Washington, said that Beijing has only tightened its comprehensive policy on rare land, but it has the discretionary authority on how to implement it. “This is the Chinese style,” she said. “If things go well, the permit occurs. If things go in a wrong direction, such as arms sales in the United States to Taiwan, the permits are going with the wind.”

China also took steps recently on the case of fentanel, announcing last week that it would appoint two other materials as chemicals for the sects for the fentanel, which makes it subject to production, transport and export regulations. Trump demanded that Beijing do more to stop the flow of these sect components to Mexican drug gangs, which it uses to make fentanel for sale in the United States imposing a 20 % tariff on Chinese imports on the case of fentanel, which is the largest part of the current 30 % taxes on Chinese goods.

In May in Geneva, the Convention called for the expansion of the imposed punitive heavy rise with Trump’s escalation of his trade war and the import duties increased sharply. Some of the higher customs tariffs, such as those imposed by Washington related to trade in fentanel and duties on aluminum and steel, are still in place.

Rapid transformation policies affect both the world’s largest economists.

The US economy has contracted at an annual rate of 0.5 % from January to March, partly due to the fact that imports rose when companies and families rushed to buy foreign goods before Trump imposed definitions on them.

In China, the factory profits sank more than 9 % from the previous year in May, when car manufacturers suffer from a large share of this decrease. They fell more than 1 % yearly in January-May.

Trump and other American officials have indicated that they expect to reach commercial deals with many other countries, including India.

“We will deal after the deal after the deal,” said Lootnick.

Wesser said from Washington. The Associated Press Washir Tang from Washington contributed.

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