In London, China and the U.S. held intense talks for 48 hours, temporarily pressing the nuclear button on the trade war, but the fuse is still burning. August 10 is the deadline! Temporary pain relief: The U.S. loosened its grip on rare earth exports. China also eased restrictions, allowing Shenzhen rare earth companies to re-export. The most striking move was the dramatic reduction in tariffs! The punitive tariffs imposed by the U.S. on China were cut from 145% to 30%, while China's tariffs on the U.S. were reduced from 125% to 10%. This is definitely a significant concession from both sides! BUT! A ticking time bomb hangs overhead: August 10 is the final deadline! If no agreement is reached before then, all the reduced tariffs will suddenly increase again, perhaps even more severely! This is not an agreement; it’s simply a delay before an explosion!