The US and China engaged in a life-and-death discussion in London for 48 hours, temporarily pressing the nuclear button of the trade war, but the fuse is still burning. August 10 is the line between life and death!

Temporary pain relief:

The US has eased its grip on rare earth exports.

China has also loosened its restrictions, allowing rare earth companies in Shenzhen to export again.

The most drastic measure is the plummeting tariffs! The punitive tariffs imposed by the US on China have been cut from 145% to 30%, while China's tariffs on the US have dropped from 125% to 10%. This is definitely a significant concession from both sides!

BUT! A time bomb hangs overhead:

August 10 is the deadline! If no agreement is reached beforehand, all the lowered tariffs will “boom” back up, even harsher! This is not a deal at all; it’s simply a postponement of an explosion!

A superficial ceasefire, while secretly stabbing:

The US is still scheming: The ban on chips and aircraft equipment from China remains unchanged, and it boasts about the court's support for its 34% 'standard' tariff. I see this as a delaying tactic, with the big stick ready to swing 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; this card is strong enough!