Trump announced on Friday that the United States and China finally signed a commercial agreement, which they reached two weeks ago in London, after several bilateral meetings between the British capital and Geneva. Although Beijing promised to reduce the restrictions on the export of a rare -earth element, there are Western companies that still find difficulties for the Chinese authorities, according to the US tabloid. Wall Street JournalThe field in particular, he says that they barely receive enough raw materials for their factories, and there are few forecasts of future accessories.
Some of the companies claim that weeks are waiting for Beijing authorities to study their requests and that, in most cases, they deviate. They also repeat that the most problems are rare lands that are used to make magnets.
The Secretary of Finance, Scott Donant, said yesterday that this agreement would be decided by the dispute that forced the negotiations that occurred in May in Geneva. For its part, on Thursday, the Chinese Ministry of Trade said that they accelerate the review of requests for export licenses for a rare earth site and repeat that a “certain number” of them had already been approved.
China produces 90% of the most important rare land in the world. This component is the key to any technological product, from batteries for electric vehicles to combat aircraft and drones.
Although the Chinese government confirmed that the system of exporting control over this type of raw materials, through licenses, was created to regulate the trade in materials for military use, this system was coincided, in April, when Trump set strong tariffs, up to 145%, Beijing placed this measure.
During the conversations in which the teams of the two largest economies in the world in Geneva spoke, Beijing promised to eliminate these measures, but the commerce of critical materials It was not accelerated as expectedThe field that again fuel tension, even Donald Trump himself asked his Chinese colleague Xi Jinping to maintain a telephone conversation, which led to the fact that the conversations were made to London from which this agreement came out.
“Now I believe that, as we agreed, the magnets will flow,” the Demon said, after the announcement of the heading of the commercial agreement announced yesterday Donald Trump.
White House Secretary Howard Lutnik said that Bloomberg in an interview, that this agreement, which was reached by Washington and Beijing, include China’s obligations from Give him rare earth lands They must produce all types of products. “We are going to give us rare earth land,” the leader said. In addition, he said that “as soon as they do it, we will remove our countermeasures.”
For their part, the sources of the Chinese Ministry of Trade assured that both parties examined the key points of the agreement and that the United States would eliminate restrictive access measures to technologies, while they will review and approve the requests for export of these critical minerals, among other details that will be declared.
