Donald Trump has endorsed the US-China trade deal struck in London that will ramp up supplies of rare earth minerals and magnets needed for the automotive industry, saying it will take total tariffs on Beijing to 55%. Acknowledging that his Chinese counterpart, Xi Jinping, still needed to give his final approval on the terms agreed late on Tuesday night at Lancaster House, the US president disclosed the pact would also facilitate Chinese students’ access to US colleges. The 55% tariff total appears at first glance to be a hike from…
Tag: US foreign policy
US-China trade talks: ‘framework’ deal amid dispute over rare earths
Officials from the US and China have agreed on a “framework” to move forward on trade after two days of talks in London stemming from their confrontation over tariffs. The US commerce secretary, Howard Lutnick, expressed optimism on Tuesday that concerns about critical or “rare earth” minerals and magnets “will be resolved” as the deal is implemented. Lutnick told reporters that the framework puts “meat on the bones” of a deal reached last month in Geneva to ease retaliatory tariffs. Its implementation had faltered over China’s curbs on critical mineral…
Donald Trump to meet Xi Jinping in China after ‘very good’ call on trade
Donald Trump said he had accepted an invitation to meet Xi Jinping in China after a phone conversation on trade was held between the leaders of the world’s two largest economies. In a post on Truth Social, the US president said the “very good” call lasted about 90 minutes and the conversation was “almost entirely focused on trade”. He wrote: “The call lasted approximately one and a half hours, and resulted in a very positive conclusion for both Countries. There should no longer be any questions respecting the complexity of…
In Australia’s post-US future, we must find our own way with China | Hugh White
Thanks to US regional strategic primacy, Australia has been virtually immune from the threat of direct military attack since the defeat of Japan in 1945. Now that is changing. In future it will no longer be militarily impossible for China to attack Australia directly. And not just China: other major regional powers, especially India and eventually perhaps Indonesia, will have the potential to launch significant attacks on Australia. That does not mean we now face a serious threat of Chinese military attack. Today the only circumstance in which Australia could…
China accuses Pete Hegseth of sowing division in Asia in speech ‘filled with provocations’
China’s government has accused Pete Hegseth of trying to “sow division” in the Asia Pacific region over his speech at a Singapore defence conference where he warned China was a potentially “imminent” threat. On Saturday Hegseth said China was “credibly preparing to potentially use military force to alter the balance of power in the Indo-Pacific”, and was rehearsing for “the real deal” of invading Taiwan. “There’s no reason to sugar coat it. The threat China poses is real, and it could be imminent,” the US defence secretary said in a…
Europe and Asia should form ‘positive new alliance’, says Macron in Singapore
European and Asian countries should form a “positive new alliance” based on shared principles, security, defence and trade, away from the battling superpowers of the US and China, Emmanuel Macron has said. Addressing the Shangri-La security dialogue in Singapore on Friday, the French president said the division between the US and China was the biggest threat in the world right now, but he also warned of the threat from Russia and North Korea. He said it was crucial that allied nations act together to maintain credibility against aggressors. “We are…
US will ‘aggressively’ revoke visas of Chinese students, Rubio says
President Donald Trump’s administration has said it will “aggressively” revoke visas of Chinese students, one of the largest sources of revenue for American universities, in the latest attack on US higher education. The announcement by secretary of state Marco Rubio came after China criticised his department’s decision a day earlier to suspend visa appointments for students worldwide at least temporarily. The Trump administration has already sought to end permission for all international students at Harvard University, which has rebuffed pressure from the president. The United States will “aggressively revoke visas…
Which Trump tariffs are active, which are paused and what’s next?
Over the last few months, Donald Trump has introduced a confusing and evolving slate of tariffs against specific countries and industries that the president has deemed as threats to US industry. Many of his harshest tariffs have been paused, and some exemptions have been made, but a handful of tariffs are still in place. Trump has continued to threaten more of them, though the future of the president’s trade war remains unclear. Here’s what we know so far about the status of US tariffs on imported goods. Active Most of…
I was secretary of labor. Trump’s bizarre tariff scheme won’t revive American jobs | Robert Reich
On Sunday night, the US announced that it was cutting tariffs on Chinese imports from 145% to 30%, for 90 days, and the Chinese are dropping tariffs on US goods from 125% to 10%, also for 90 days. The stock market soared on the news. (Anyone with inside knowledge of the deal could have made a killing.) But what’s the ultimate goal here? What happens over the next 90 days? It’s impossible to know what’s in Donald Trump’s mind (other than an insatiable thirst for power and money), but his…
US and China agree to lower tariffs in trade war de-escalation – video
The US and China have agreed to lower tariffs on each other’s goods substantially for 90 days following negotiations last weekend. Speaking in Geneva, the US treasury secretary, Scott Bessent, said ‘both sides will move their tariffs down by 115%’. It is a significant de-escalation in the trade war that blew up last month. Before the latest deal, the US had lifted its tariffs on China to 145% – including the 20% tariff added to tackle fentanyl imports into the US – with Beijing having retaliated with 125% tariffs on…