Trump's tariffs on Chinese goods resulted in a significant export drop, compelling China to negotiate. The U.S. demonstrated resilience through advancements in domestic refining and leverage in semiconductor production, which highlighted China's dependency on the U.S. market despite its control over rare earth minerals crucial for technology and defense industries. A recent agreement between the two nations signified a shift, contradicting pessimistic predictions of U.S. vulnerability in negotiations with China, particularly regarding rare earth exports and semiconductor restrictions.
By June 27, a framework agreement between U.S.-China was reached, with China agreeing to expedite rare earth export licenses and the U.S. easing semiconductor export restrictions.
Trump's 55% tariffs on Chinese goods caused a 35% export drop forcing China to the negotiating table.
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