U.S. Trade Representative Jamieson Greer noted progress in talks with China regarding rare earth magnet flows, essential components for various industries. Last week in Stockholm, discussions led to a tariff truce extension, with Beijing committing to expedite shipments post-U.S. tariff suspension. The U.S. reported a significant increase in rare earth magnet imports from China, although total shipments remain below pre-control levels. Greer indicated that resolving the magnets issue is crucial for advancing U.S.-China relations, with President Trump to ultimately decide on the tariff situation.
"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 about halfway there."
"We're working on some technical issues, and we're talking to the president about 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 latest customs data.
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.
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