Rare Earths Rendezvous: U.S. and China Seek Truce
U.S. and Chinese officials are engaging in crucial talks in London to resolve a trade dispute centered on rare earths, with potential consequences for global supply chains and economic growth. High-level representatives aim to reaffirm commitments, amid tensions and broader geopolitical dynamics impacting international trade relations.
Top U.S. and Chinese officials gathered in London on Monday to address the deepening trade conflict centered on rare earths, a critical component for many industries. The meeting aims to restore confidence following a preliminary agreement reached last month in Geneva, amid ongoing allegations from the U.S. regarding China's trade commitments.
U.S. economic adviser Kevin Hassett emphasized the importance of securing China's cooperation on rare earth exports, following a direct call between Presidents Trump and Xi. The discussions are seen as pivotal for both economies, which are experiencing strain from trade tensions and tariffs.
The talks are occurring in a context of broader geopolitical pressures, with notable figures such as U.S. Treasury Secretary Scott Bessent and Vice Premier He Lifeng attending. As the global economy watches closely, the outcome of these negotiations could have far-reaching implications for international trade and economic stability.
(With inputs from agencies.)
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