U.S. and China Resolve Rare Earth Mineral Dispute to Clear Trade Tensions

The United States and China have reached a breakthrough in trade relations by resolving a significant dispute over shipments of rare earth minerals and magnets. Treasury Secretary Scott Bessent announced on Friday that the longstanding disagreement, which disrupted global supply chains, has finally been ironed out.

This resolution comes after months of negotiations, including a critical phone call between U.S. President Donald Trump and Chinese President Xi Jinping, which paved the way for further talks in London. The agreement aims to expedite shipments, crucial for industries like automotive and aerospace.

Though a significant step forward, the agreement highlights the complexity of U.S.-China trade relations, as both nations still need to work toward a comprehensive trade deal. The progress reflects a positive shift in a strained relationship, though challenges remain in achieving long-term stability.

(With inputs from agencies.)