US President Donald Trump on Monday hinted at imposing 200% tariffs on China if the country did not supply rare earth magnets, essential to the automotive, electronics and defense industries, to America. US President Donald Trump and China’s President Xi Jinping.(REUTERS) While he heaped praise on China for “intelligently” taking control of the monopoly of…
US President Donald Trump addressed the rare earth magnet dispute with China, warning of potential 200% tariffs if supplies are not provided. He highlighted the historical monopoly China created over magnets, emphasizing national security concerns and the US plan to ramp up domestic production. Trump stressed that America holds stronger trade leverage, maintaining a good…
BEIJING (Reuters) -China’s exports of rare earth magnets to the United States in June soared to more than seven times their May level, marking a sharp recovery in the flow of critical minerals used in electric vehicles and wind turbines after a Sino-U.S. trade deal. Outbound shipments to the United States from the world’s largest…
By Katha Kalia, Eric Onstad and Ernest Scheyder (Reuters) -MP Materials unveiled a multibillion-dollar deal with the U.S. government on Thursday to boost output of rare earth magnets and help loosen China’s grip on the materials used to build weapons, electric vehicles and many electronics. Under the deal, which sent MP’s shares up nearly 50%,…
The U.S. and China have agreed on a trade deal that would reduce tariffs and expedite shipments of rare-earth metals. United States Treasury Secretary Scott Bessent said on Friday that U.S. tariffs on Chinese imports will now start at 30%, while China’s duty rate on goods from the U.S. will be at 10%. The 20%…