US,China strike deal on rare earth exports

The White House signaled trade progress with China Thursday, with an official saying both sides have reached an understanding on issues including expediting rare earth shipments to the United States.

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After talks in Geneva in May, Washington and Beijing had agreed to temporarily lower steep tit-for-tat tariffs on each other's products.

China also committed to easing some non-tariff counter-measures, but US officials later accused Beijing of violating the pact and slow-walking export license approvals for rare earths.