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US-CN Trade Truce Faces Risk of Falling Apart on Rare Earth Issues
2025-06-02 08:31:57 The US-China trade truce is facing the risk of collapse due to rare earth issues, The Wall Street Journal quoted sources as saying. During earlier negotiations in Geneva, Switzerland, the US Trade Representative requested He Lifeng, China's Vice Premier, to resume rare earth exports, sources said. In return, the US agreed to implement a 90-day tariff truce. In the final agreement, both parties suspended most tariffs. However, China continued to delay approval of export licenses for rare earths and other elements needed to make autos, chips and other products. The US Department of Commerce issued a warning on 12 May that banned the use of Huawei's Ascend AI chips anywhere in the world, undermining China's willingness to fulfill its rare-earth commitments, sources added. China viewed this as the latest provocation by the US, and expressed its dissatisfaction to the US. The US subsequently reiterated that the warning was merely a reiteration of US policy, and that China needed to honor its commitments. ~ AASTOCKS Financial News Website: www.aastocks.com | |