Trump says China’s Xi agreed to resume rare earth mineral exports to US

President Donald Trump announced on Friday that Chinese President Xi Jinping has agreed to resume the shipment of rare earth minerals to the United States, after halting exports in April. This decision comes as a relief after China effectively stopped the export of seven crucial minerals to the U.S., impacting industries such as car manufacturing, robotics, and defense systems.

During a press conference on Air Force One, Trump confirmed that Xi had agreed to restart the flow of rare earth minerals and magnets to the U.S., indicating progress in the ongoing negotiations between the two countries. The halt in shipments had raised concerns about America’s reliance on China for critical minerals, as the country produces a significant portion of the world’s supply.

The restrictions on rare earth exports to the U.S. were implemented on April 4, with companies required to obtain special export licenses that could take up to 45 days to process. This move posed a threat to the U.S. manufacturing and defense supply chain, as China holds a dominant position in the global rare earth market.

The decision to resume shipments of rare earth minerals comes after a phone call between Trump and Xi, where they discussed trade issues and the implementation of the recently agreed-upon trade deal. The call lasted for about one and a half hours, with both leaders expressing positivity towards the outcome.

The conversation between Trump and Xi followed tensions between the two countries, with Trump criticizing China for violating the initial trade agreement reached in May. The U.S. had also imposed sanctions on Chinese military contractors in response to Beijing’s restrictions on rare earth exports.

Overall, the agreement to resume shipments of rare earth minerals to the U.S. signifies a positive development in the trade relations between the two countries. As negotiations continue, both sides are working towards addressing key issues and ensuring a fair and mutually beneficial trade relationship.