Germany welcomed the Chinese-American agreement on easing restrictions on rare metal exports and hopes that negotiations between the United States and the European Union will be resolved in a similar manner, according to Chancellor Friedrich Merz's statement today, Wednesday.
Merz said at a joint press conference with Danish Prime Minister Mette Frederiksen in Berlin: 'I welcome it very much; this is not at the expense of Europe, but rather another conflict that has been resolved.'
American and Chinese officials announced that they agreed on a framework to get their trade truce back on track and lift China's restrictions on exporting rare metals, while there were no significant signs of a permanent solution to long-standing trade disputes.
The framework consists of China receiving tariffs of about 55 percent from America on its imports, and Chinese students will enjoy studying in America.
The imposed rate on Beijing represents the total basic 'reciprocal' tariffs of 10 percent that Trump imposed on imported goods from almost all of the United States' trade partners, and a rate of 20 percent on all Chinese imports due to punitive measures that Trump imposed on China, Mexico, and Canada, related to his accusations that the three countries facilitated the flow of opioid fentanyl into the United States, and finally the previous 25 percent tariffs on imports from China, which were imposed during Trump's first term in the White House.
For America, a 10 percent tariff will be imposed on its imports from China, and Washington will be provided in advance with all magnets and any rare earth metals.
