Greer says U.S.-China talks ‘about halfway there’ on rare earths

·Tariffs and tradeGreer says U.S.-China talks ‘ halfway there’ on rare earthsBy BloombergBy Bloomberg U.S

Trade Representative Jamieson Greer said Sunday that the key industrial components were a focus of negotiations in Stockholm last week that Beijing said led to an extension of their tariff truce.Al Drago—Bloomberg via Getty ImagesU.S

Trade Representative Jamieson Greer sounded a cautiously optimistic note on discussions with China on rare earth flows, ing trade talks that further steadied ties between the economies

Greer said the key industrial components were a focus of negotiations in Stockholm last week that Beijing said led to an extension of their tariff truce

Without going into detail, he said the U.S. secured commitments their supply on CBS’s Face the Nation aired Sunday. “We’re focused on making sure that magnets from China to the United States and the adjacent supply chain can flow as freely as it did before the control,” Greer said in the interview, which was taped Friday. “And I would say we’re halfway there.” That assessment came some four months after China imposed export controls on rare earth magnets—used in ducts from appliances to missiles—in retaliation for U.S. tariff threats

Beijing has agreed to speed up their shipments after Washington susp sky-high levies on Chinese exports

President Donald Trump is set to make the final call on maintaining the tariff truce, which expires Aug. 12, Greer said. “We’re working on some nical issues, and we’re talking to the president it,” he said

Flows of rare earth magnets from China to the U.S. rose to 353 tons in June, up from just 46 tons in May, according to the customs data

Total shipments were still substantially lower than before Beijing launched export controls in early April

Greer earlier said Trump’s trade team hopes to be done discussing magnets with China, after he and Treasury Secretary Scott Bessent wrapped up a third round of trade talks with Beijing in the Swedish capital end of July

If the U.S. can get over the magnets issue, it can move to a further discussion of the U.S.-China relationship, he added

The discussions have helped stabilize relations between the world’s two largest economies, although many frictions remain, including over the U.S.’ curbs on exporting advanced AI chips to its main competitor

Beijing authorities on Thursday summoned Nvidia Corp. to discuss alleged security vulnerabilities related to its H20 chips

The Trump administration only recently pledged to drop export restrictions on the less-advanced nology to China, in a reversal that spurred talk of a potential broader deal with Beijing

The Cyberspace Administration of China cited s by U.S. lawmakers the need to install tracking capabilities into advanced chips sold to other countries

The agency asked staff at the world’s most valuable company to explain potential risks and vide documents as needed, the CAC said without elaborating.