U.S. and China Sign Rare Earth Supply Agreement... "Trade Deals with 10 Countries to Be Concluded by the 9th"

The United States and China have finalized and signed a trade agreement focusing on the supply of rare earths. Leveraging this deal, they also announced intentions to conclude trade agreements with another 10 major trading partners by the 9th of next month.

Howard Lutnick, the U.S. Secretary of Commerce, said in an interview with Bloomberg on the 26th (local time), "China has promised to supply rare earths. Once supply starts, U.S. countermeasures will be withdrawn," adding, "the two countries have already signed the agreement." Rare earths are resources that play a key role in strategic industries such as wind turbines and fighter jets, and China controls over 90% of global supply.

This agreement continues the U.S.-China negotiations that began last month in Geneva. At that time, the two countries agreed to partially withdraw mutual tariffs. However, they continued to disagree on detailed implementation plans, resulting in ongoing disputes. Subsequently, at follow-up talks in London, the U.S. and China finalized coordination on core issues such as supply conditions and the effective date.

Secretary Lutnick stated, "President Trump plans to finalize the first phase of trade agreements with 10 major countries, including India, within the next two weeks," adding, "Since a new tariff decision must be made by July 9th, each country should proceed with negotiations with this timeline in mind."

President Trump maintains that, in case of negotiation difficulties, "Notice of Trade Terms" will be sent to the respective countries to determine future relationships. Secretary Lutnick explained, "Countries that conclude agreements will be included in the package, and the remainder will receive individual responses. Even if there is room for further negotiation, for now, tariff rates will be fixed and will move on to the next stage."