U.S. and China reach preliminary trade deal on rare earths, tariffs

Breakdown

• U.S. and China have agreed to a preliminary trade deal to de-escalate the trade war. 17s
• The agreement would avert new 100% tariffs on Chinese goods and ensure continued rare earth mineral supplies to the U.S. 26s
• China dominates the rare earth minerals market, which is vital for U.S. technology and defense sectors. 50s
• Existing tariffs are likely to remain, but the planned new tariffs will be halted if the deal is finalized. 2m 34s
• The deal is a framework and will require further negotiation and formal agreement between both nations. 2m 48s