#美国加征关税 The US and China negotiated fiercely in London for 48 hours, temporarily pressing the trade war's nuclear button, but the fuse is still burning. August 10th is the line of life and death!

Temporary painkiller:

The US loosened its grip on rare earths a bit.

China also eased some restrictions, allowing rare earth companies in Shenzhen to re-export.

The most severe move is the drastic drop in tariffs! The punitive tariffs that the US imposed on China were cut from 145% to 30%, while China's tariffs on the US decreased from 125% to 10%. This is definitely a significant concession from both sides!

BUT! A time bomb is hanging overhead:

August 10th is the deadline! If an agreement is not reached by then, all lowered tariffs will “boom” back up, or even worse! This is not a deal, it’s merely a postponement of an explosion!

Surface ceasefire, secret stabbing:

The US is being sneaky: The ban on chips and aircraft equipment from China remains unchanged, and it boasts about the court supporting its 34% “standard” tariff. I see this as a stalling tactic, with the big stick ready to come down at any moment!

China isn't backing down either: Exports to the US plummeted by 34.5% in May, setting a record, and the trade war really hurts. But we have the rare earth trump card, forcing the US to come back to the negotiating table; that’s a strong hand!