Trump economic adviser ‘very comfortable’ with a trade deal closing with China on Monday
CNN
The United States is looking to restore the flow of “crucial” rare earth minerals, which were restricted after China’s retaliatory efforts in early April.
National Economic Council Director Kevin Hassett said Sunday that he is “very comfortable” with a trade deal closing between the United States and China after the two sides meet Monday in London. Hassett’s comments on CBS’ “Face the Nation” come after President Donald Trump said last week that he had a “very good” conversation with Chinese leader Xi Jinping and that talks with China are “very far advanced.” Hassett said the United States is looking to restore the flow of “crucial” rare earth minerals, which are used in the manufacturing of electronics, to the same levels before early April, when the US-China trade war escalated. “Those exports of critical minerals have been getting released at a rate that is higher than it was, but not as high as we believe we agreed to in Geneva,” Hassett said. Commerce Secretary Howard Lutnick will lead the negotiations in London, along with Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer, who in May led a weekend of the trade talks in Geneva. But tensions between the nations escalated weeks later after Trump posted on Truth Social that China “totally violated” its 90-day trade agreement, which had dialed back the tit-for-tat trade war. Under the agreement, the US temporarily lowered its overall tariffs on Chinese goods from 145% to 30%, while China cut its levies on American imports from 125% to 10%.
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