Doubts are growing whether Trump has reached an agreement with China to speed up rare earth shipments into America, as Trump s trade war backfires spectacularly.
A lack of rare earth metals are set to hammer not just US defence manufacturers but also automobile makers such as Ford.
Trump ran as a president who would end the foreever wars, make Americans prosperous again by bringing back jobs, who would release the secret Epstein list and would hold Gates and Pfizer to account for their covid jab harms through Robert F Kennedy Jr.
He has broken every promise to serve the interests of the oligarchs he was voted in to hold to account for their various crimes in a stunning betrayal.
From media
President Donald Trump said on Thursday that the US had signed a deal with China the previous day, without providing additional details, and that there might be a separate deal coming up that would “open up” India.
China confirmed the details of the deal on Friday, and reiterated that it will continue to approve the export permits of controlled items.
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part of its retaliation against new US tariffs, China suspended exports of a wide range of critical minerals and magnets, upending the supply chains central to automakers, aerospace manufacturers, semiconductor companies and military contractors around the world.
“The administration and China agreed to an additional understanding for a framework to implement the Geneva agreement,” a White House official said on Thursday.
The understanding is “about how we can implement expediting rare-earth shipments to the US again”, the official said.
China has a virtual monopoly on the global supply of rare earths, having grown to dominate production and processing in the 1990s and the 2000s. Some of the rare earths mined in China are used in US military equipment, a vulnerability that has been laid bare in the US-China trade war.
While the agreement shows potential progress after months of trade uncertainty and disruption since Trump took office in January, it also underscores the long road ahead to a final, definitive trade deal between the two economic rivals.
China has been taking its dual-use restrictions on rare earths “very seriously” and has been vetting buyers to ensure that materials are not diverted to US military uses, according to an industry source. This has slowed down the licensing process.
The Wall Street Journal reported this week that China has told rare-earths companies to provide the government with a list of workers with technical expertise and has asked some to turn in their passports to prevent them from taking unauthorised overseas trips. China wants to ensure that its commercially valuable rare-earths knowledge is not shared with foreign adversaries.
Car manufacturers have already complained about factories being brought to a near halt because of supply chain shortages of rare earths and the magnets they are used in. A Ford executive said this week that the company was living “hand to mouth”.
https://www.zerohedge.com/markets/confusion-trump-says-deal-china-signed-yet-both-sides-violate-terms-ceasefire
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