Washington: According to a White House official, the United States and China have agreed to increase rare earth exports to the US.
According to the source, recent discussions between the two parties resulted in an agreement on a trading framework that aims to reduce tensions and enhance collaboration on essential supplies.
Washington and Beijing decided to temporarily reduce the high tit-for-tat tariffs on each other’s goods following negotiations in Geneva in May. US officials later accused Beijing of breaking the agreement and postponing rare earth export license applications, despite China’s commitment to loosen some non-tariff countermeasures.
After discussions in London last month, both sides finally agreed on a framework to move the Geneva accord forward.
