The president of the United States, Donald Trump, takes questions from the media at the White House in Washington, DC, USA, May 7, 2025.
Leah Millis | Reuters
The president of the United States, Donald Trump, said on Wednesday that China will provide rare earths in advance to the United States as part of a commercial agreement.
The relationship between the two largest economies in the world is “excellent,” Trump said in a publication about Truth Social, while adding: “We are obtaining a total of 55% of tariffs, China is getting 10%.”
He added that the magnets and “necessary rare earth” will be supplied by China in advance and that the United States in turn will make certain concessions such as allowing Chinese students to attend schools and universities in the United States.
The agreement is subject to the final approval with him and the president of China, Xi Jinping, said the president of the United States, added that he intends to work in close collaboration with XI to open China to the US trade, describing the perspective as “a great victory for both countries!”
Representatives of both sides had revealed on Tuesday that an agreement had been reached in trade after a second day of high -level conversations in London.
“We have reached a framework to implement the Geneva consensus and the call between the two presidents,” said United States Secretary Howard Lutnick, journalists.
That echoed comments to Li Chenggang journalists, China’s International Trade Representative and a Deputy Minister of the Ministry of Commerce of China.
The elements and magnets of rare earths widely used by the automotive and defense sectors arose as a key conflict point between the two largest economies in the world.
The Ministry of Commerce of China in early April imposed export restrictions on strategically important minerals in response to Trump’s increase in Beijing export products.
Both parties had mutually accused of giving up a preliminary trade agreement in Switzerland last month. However, investors had hoped an advance after the call last week between Trump and the XI of China.
China mineral domain
China is the undisputed leader of the critical mineral supply chain, producing approximately 60% of the world supply of rare earths and processing almost 90%, which means that these materials from other countries and processing them are importing.
American officials have previously warned that this domain raises a strategic challenge in the middle of the most sustainable energy sources.
Trump’s round -trip commercial policies have discarded financial markets in recent months, generating chaos in the main ports and carrying global supply chains to the breakdown.
Oil prices appeared shortly after the publication of Trump’s social networks. International Brent Brent futures with August delivered $ 1 per barrel to $ 67.87 in the news. The contract was last seen around 1.8% for the session.
US Texas western intermediate Meanwhile, futures with a July delivery remained 2.2% higher than $ 66.42.
