We focused on export controls of China on rare earth, and they’re going to keep those flowing, which is quite important,” Trump said.
US President Donald Trump on Thursday said that tariffs on China will be slashed to 47% from 57%, adding that Washington and Beijing have reached a conclusion on many important points regarding trade, including the sensitive rare earths issue.
Speaking to reporters from Air Force One after talks with Chinese President Xi Jinping in South Korea, Trump said that US will slash fentanyl tariffs on Beijing to 10% from 20%.
He added that the rare earths issue with China has also been settled, with US signing a one-year trade pact with Beijing. “We focused on export controls of China on rare earth, and they’re going to keep those flowing, which is quite important,” Trump said.
He added that there’s no roadblock at all on rare earths, asserting that it will “hopefully disappear from our vocabulary for a little while.”
The flow of rare earths had been a key point of contention between the US and China.
Source:Money Control