In London, the US and China engaged in a life-and-death negotiation for 48 hours, temporarily pressing the nuclear button of the trade war, but the fuse is still burning. August 10th is the line between life and death! Temporary painkiller: The US has loosened its grip on rare earth exports. China has also eased restrictions, allowing rare earth companies in Shenzhen to export again. The most severe is the drastic reduction in tariffs! The punitive tariffs from the US on China dropped from 145% to 30%, while China's tariffs on the US fell from 125% to 10%. This is definitely a significant compromise from both sides! BUT! A time bomb hangs overhead: August 10th is the deadline! If no agreement is reached before then, all the reduced tariffs will 'boom' back up, or even worse! This is not an agreement at all; it's merely a delayed explosion! A superficial ceasefire, but secretly stabbing: The US is being sly: The ban on chips and aircraft equipment for 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 is not backing down either: Exports to the US plummeted by 34.5% in May, setting a record; the trade war indeed hurts. But we have the rare earth trump card, forcing the US to come back to the negotiating table; that's a strong hand!