China has not made concessions on special rare elements of the land, including Samaria, which is required for military purposes and does not fall under an accelerated procedure agreed to London.
Despite the agreement with the new stop of the trade war, reached by the United States and China in London, the issue of exporting military magnets has remained open. This was reported by Reuters on Sunday, June 15.
According to agency interlocutors, Beijing has not agreed to provide export permissions for some rare -earth magnets required for American military suppliers for warriors and missile systems.
In this regard, the United States maintains export restrictions in China with high-tech chips with artificial intelligence due to potential military use.
During London negotiations, the Chinese side really tied the removal of exporting restrictions on military magnets with a decrease in American restrictions on exporting chips.
Resources also reported that the United States plans to expand current duties for Chinese goods in another 90 days after Daedlin on August 10, previously consistent with Geneva. This indicates that the final trading agreement for this date is not likely to end.
President Donald Trump called the London agreement “a very good deal”:
“We got everything we needed, and we could achieve success. I hope they too,” he said.
Financial Minister Scott Immentus emphasized that we are not talking about concessions with each other: “There is no Quid Pro Quo to remove restrictions on chips in exchange for accessing rare materials.”
China still controls the majority of world -making and processing rare elements, leaving this issue critical to negotiations.
The agreement reached in Geneva last month to reduce tariffs was slowed down due to Chinese restrictions introduced in April for exporting critical minerals. In response, United States exports to China software for designing microcircuits, aircraft and other sensitive products.
In London, Beijing agrees to speed up the consideration of exporting applications from American companies that do not produce military products, and create a green corridor for reliable suppliers. Permissions will run six months.
One of the Chinese manufacturers – JL Mag Rare -earth – announced the reception of an export license covering the United States. The PRC’s Ministry of Trade also confirmed the approved “relevant applications.”
However, in magnets containing Samaria – a key ingredient for military systems – restrictions remain. Auto producers and other industries are needed mainly in other materials – especially, disprosion and terribia.
“Temporary accounting of some interests is possible, but the main problem of trading imbalance is not likely to be solved as part of this period, and, perhaps, all under the current Trump administration,” said Li Weidun, an expert in the USA and China from the Institute of American Studies of the Chinese Academy of Social Sciences.
Expanding the agreed deadline may give Trump management more time to prepare an alternative legal justification for establishing a higher role for China, if the current American leader has lost the current test of the customary tariffs in the American court.
“The Trump administration realizes that he cannot conclude a new trade agreement that unilaterally complied with its priorities,” the director of the John L. Thornton Chinese Center was recorded at the Brucking Institute, Ryan Hass.
It should be noted that recent -only United States and China representatives have joined a framework to return to a trading truck and the removal of exporting restrictions on rare land elements.
Remember, Chinese exports to the United States fell 34.5% compared to last year, which was the most sharp fall since February 2020, when trade-19 trade violated.
However, on June 5, US president Donald Trump held a long telephone conversation with Chinese leader Xi Jinping. This happened after a long period of silence between the leaders of the nations.
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.