Trump sänker tullarna mot Kina på sällsynta jordartsmetaller och soja | NTD NYHETER

The leaders of the world's two largest economies appear to have pulled back from the edge of another full-blown trade war. President Trump said they agreed to trim tariffs on Chinese goods down from 57 to 47 percent in exchange for Beijing's cooperation on fencinal enforcement, resuming U.S. soybean purchases, and delaying rare earth export restrictions. We have a deal. Now every year we'll renegotiate the deal, but I think the deal will go on for a long time, long beyond the year. We'll negotiate at the end of the year, but all of the rare earth has been settled in the world. Is the U.S. suspending that new rule that was put in place that would have expanded the entity list, export restrictions to any entity that is at least 50 percent owned by one or more entities on the list for one year? Yes, we are going to be suspending that for a year in return for the suspension on the rare earth licensing regime. Trump is calling this a one-year deal that can be extended, but it's not guaranteed, as China has a track record of failing to keep promises, including under the phase one trade deal of Trump's first term. But Treasury Secretary Scott Besson says that this deal could be signed as soon as next week, with China agreeing to buy 25 million metric tons of U.S. soybeans annually. Tremendous amounts of the soybeans and other farm products are going to be purchased immediately. For American farmers, this could mean some short-term relief, but it remains to be seen how long it will last, as any deal with the CCP is fragile. And the issue of fencinal came up here as well. Trump says that China will work to stop the flow of its deadly fencinal into the U.S., and in return, Trump is cutting fencinal-related tariffs from 20 to 10 percent. And right before his sit-down with Chinese leader Xi Jinping, President Trump ordered the Pentagon to resume nuclear weapons testing for the first time in about three decades. With others doing testing, I think it's appropriate that we do also. I'd like to see a denuclearization because we have so many in Russia, and so Russia's second and China's third. And this is all capped by Trump's trip to South Korea, Japan and Malaysia, where Trump said that he secured hundreds of billions of dollars in U.S. investment. Reporting by Jack Bradley, NTD News.