China and US Forge New Trade Deal Amid Xinjiang Forced Labor Claims

In a pivotal move for international trade dynamics, President Donald Trump announced on Wednesday a new agreement with China, securing the supply of magnets and rare earth minerals from the Asian giant. This deal significantly increases tariffs on Chinese goods to 55%, though it offers China concessions, such as visa allowances for Chinese students in the U.S.

Concurrently, a report by Global Rights Compliance has raised serious concerns about potential human rights abuses in China's Xinjiang province, implicating major global brands like Avon, Walmart, Nescafe, and Coca-Cola. The report suggests these companies might be inadvertently linked to forced labor practices through their mineral supply chains originating from Xinjiang.

This contentious backdrop did not deter the two largest global economies from engaging in talks to refine their trade negotiations in London, seeking resolutions to disputes over mineral and technology exports. The dialogue underscores the complex balance between economic collaboration and human rights issues, with China strongly refuting the forced labor allegations.

(With inputs from agencies.)