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Trump cuts off US trade talks with Canada, shattering optimism over tariff deals Treasury chief cites progress in priority negotiations Trump calls Canada digital tax a 'blatant attack' on US Canada to get new US tariff rate within a week Trump says countries will get tariff rates within two weeks #reuters #TARIFF
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The threat of mass shutdowns across the automotive supply chain is fading as Chinese rare earth magnets begin to flow, though automakers and suppliers say production plans still face uncertainties and a continued risk of shortages. European suppliers have received enough licences to avoid the widespread disruptions predicted earlier this month but hundreds of permits remain pending, said Nils Poel, head of market affairs at supplier association CLEPA. #reuters $BTC
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“We just signed with China yesterday,” Trump said during a briefing at the White House, though he did not provide further details. #TradeWarPause
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China had committed to removing non-tariff countermeasures in May talks China's dual-use restrictions slow rare earth licensing process Trump says there might be a separate deal with India 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 U.S. military uses, according to an industry source. This has slowed down the licensing process. The Geneva deal had faltered over China's curbs on critical minerals exports, prompting the Trump administration to respond with export controls of its own preventing shipments of semiconductor design software, aircraft and other goods to China. In early June, Reuters reported China had granted temporary export licenses to rare-earth suppliers of the top three U.S. automakers, according to two sources familiar with the matter, as supply chain disruptions began to surface from export curbs on those materials. Later in the month, Trump said there was a deal with China in which Beijing would supply magnets and rare earth minerals while the U.S. would allow Chinese students in its colleges and universities. US says deal with Beijing will expedite rare earth exports from China #Reuters. #BTC110KToday?
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