Today, China’s Ministry of Commerce has confirmed it will approve the export of rare earth minerals to the US, following White House officials confirming that the countries reached a major breakthrough after weeks of negotiations.
In a statement, China’s Ministry of Commerce said, “China will approve the export application of controlled items that meet the conditions in accordance with the law. The United States will cancel a series of restrictive measures taken against China accordingly.”
The agreement holds substantial importance for the United States economy, considering China’s dominance in processing approximately 90% of global rare earth elements.
The announcement comes as President Trump confirmed that his team has also succeeded in reaching a full tariff and trade deal with China. Speaking from the White House, Trump stated, “We just signed with China yesterday.”
Speaking to the media on Thursday, US Commerce Secretary Howard Lutnick said China is “going to deliver rare earths to us,” and then “we’ll take down our countermeasures.”
By CEO NA Editorial Staff
