Latest news with #MorningsWithMaria
The Hill
8 hours ago
- Business
- The Hill
Trump moves toward mineral deals
The Big Story The Trump administration is announcing they've reached a trade agreement with China that includes mineral provisions — and is seeking further agreements with Rwanda and the Democratic Republic of the Congo. © Greg Nash The Trump administration reached an agreement with China this week focused on rare earth exports to the U.S., building on previous talks between the two nations that eased tariffs on imports from Beijing. 'We had trade talks in Geneva towards moving toward the agreement in London. Part of the agreement was tariffs coming down and rare earth, rare earth magnets starting to flow back to the U.S.— they formed the core of our industrial base. They were not flowing as fast as previously agreed,' Treasury Secretary Scott Bessent said Friday on Fox Business's 'Mornings With Maria.' The agreement was then signed earlier this week, which the administration is describing as a de-escalation of the U.S.-China trade war. 'I am confident now that we, as agreed, the magnets will flow. In the meantime, we had put countermeasures versus the Chinese in place. We had held back some, the vital supplies for them. So, what we're seeing here is a de-escalation under President Trump's leadership,' Bessent said. Commerce Secretary Howard Lutnick later told Bloomberg TV the deal, which was struck in London, was signed earlier this week. 'The China deal, we inked the deal — you remember, we had a trip to Geneva and then that was being slow-played. We got back together in London and that deal was signed and sealed two days ago,' Lutnick said. Lutnick also told Bloomberg that China will 'deliver rare earths to us' and that afterward, the U.S. will 'take down our countermeasures.' Massad Boulous, Trump's senior advisor for Africa and father-in-law to his daughter Tiffany, told reporters that the U.S. was working on mineral agreements with both the DRC and Rwanda. 'We're negotiating a minerals deal with the DRC for critical minerals. Many American companies have shown interest in investing in the DRC,' he said. 'Same thing with Rwanda. Many American companies have shown interest, and not only in mining, but also in the midstream and downstream, which will be the processing of minerals.' Read more about China from Rachel and The Hill's Alex Gangitano here and read more about Africa from Rachel and The Hill's Laura Kelly here. Welcome to The Hill's Energy & Environment newsletter, I'm Rachel Frazin — keeping you up to speed on the policies impacting everything from oil and gas to new supply chains. Did someone forward you this newsletter? Subscribe here. Essential Reads How policy will affect the energy and environment sectors now and in the future: DRC and Rwanda call for Trump to 'stay committed' after peace deal The top diplomats from the Democratic Republic of Congo and Rwanda urged President Trump to stay committed to enforcing a peace agreement between the two countries signed in Washington on Friday. Record-breaking heat dome disrupts summer school, student activities This week's heat dome put a big hole in summer school. Summer classes and other events for students across the country were disrupted by swelteringly high temperatures, a warning of climate-related education disruptions to come. Environmental groups sue to block 'Alligator Alcatraz' A coalition of environmental groups on Friday sued over the Trump administration's plans to build a detention center in the Everglades that critics have dubbed 'Alligator Alcatraz.' What We're Reading News we've flagged from other outlets touching on energy issues, the environment and other topics: Italy chemical plant execs jailed for pollution (AFP) What Others are Reading Two key stories on The Hill right now: GOP leader sets Saturday vote on Trump 'big, beautiful bill' despite Republican pushback Senate Majority Leader John Thune (R-S.D.) told Senate Republicans to expect to see the legislative text of the budget reconciliation package on Friday evening and then to vote at noon Saturday to begin debate on President Trump's tax and spending bill. Read more 5 takeaways from the Supreme Court's birthright citizenship ruling The Supreme Court handed President Trump a clear victory Friday, stopping judges from issuing nationwide injunctions that block his executive order narrowing birthright citizenship. Read more You're all caught up. See you next time! Thank you for signing up! Subscribe to more newsletters here
Powys County Times
10 hours ago
- Business
- Powys County Times
Beijing deal will speed China's export of minerals to US
Washington and Beijing have signed a trade agreement that will make it easier for American firms to obtain magnets and rare earth minerals from China that are critical to manufacturing and microchip production, US treasury secretary Scott Bessent said on Friday. The agreement comes after China retaliated against steep import tariffs imposed by the Trump administration on Chinese goods, and moved to slow the export of rare earth minerals and magnets much needed by US industrial interests. Mr Bessent said on Fox Business Network's Mornings With Maria that US President Donald Trump and Chinese President Xi Jinping 'had a phone call' previously 'and then our teams met in London, ironed this out, and I am confident now that we, as agreed, the magnets will flow'. 'Part of the agreement was tariffs coming down and rare earth magnets starting to flow back to the US,' Mr Bessent said. 'They formed the core of a lot of our industrial base. They were not flowing as fast as previously agreed.' His comments come after Mr Trump announced two weeks earlier an agreement with China that he said would ease exportation of magnets and rare earth minerals That pact cleared the way for the trade talks to continue. The US has previously suspended some sales to China of critical US technologies like components used for jet engines and semiconductors. But it has also agreed to stop trying to revoke visas of Chinese nationals on US college campuses. Mr Bessent added of critical mineral exports: 'What we're seeing here is a de-escalation.' Commerce secretary Howard Lutnick told Bloomberg TV that the deal was signed earlier this week. China's commerce ministry said on Friday that the two sides had 'further confirmed the details of the framework', though its statement did not explicitly mention US access to rare earths that have been at the centre of the negotiations. 'China will, in accordance with the law, review and approve eligible export applications for controlled items. In turn, the United States will lift a series of restrictive measures it had imposed on China,' it said. Initial talks in Geneva in early May led both sides to postpone massive tariff hikes that were threatening to freeze much trade between the two countries. Later talks in London set a framework for negotiations and the deal mentioned by Mr Trump appeared to formalise that agreement, setting the stage for Mr Bessent's comments on Friday.
Leader Live
11 hours ago
- Business
- Leader Live
Beijing deal will speed China's export of minerals to US
The agreement comes after China retaliated against steep import tariffs imposed by the Trump administration on Chinese goods, and moved to slow the export of rare earth minerals and magnets much needed by US industrial interests. Mr Bessent said on Fox Business Network's Mornings With Maria that US President Donald Trump and Chinese President Xi Jinping 'had a phone call' previously 'and then our teams met in London, ironed this out, and I am confident now that we, as agreed, the magnets will flow'. 'Part of the agreement was tariffs coming down and rare earth magnets starting to flow back to the US,' Mr Bessent said. 'They formed the core of a lot of our industrial base. They were not flowing as fast as previously agreed.' His comments come after Mr Trump announced two weeks earlier an agreement with China that he said would ease exportation of magnets and rare earth minerals That pact cleared the way for the trade talks to continue. The US has previously suspended some sales to China of critical US technologies like components used for jet engines and semiconductors. But it has also agreed to stop trying to revoke visas of Chinese nationals on US college campuses. Mr Bessent added of critical mineral exports: 'What we're seeing here is a de-escalation.' Commerce secretary Howard Lutnick told Bloomberg TV that the deal was signed earlier this week. China's commerce ministry said on Friday that the two sides had 'further confirmed the details of the framework', though its statement did not explicitly mention US access to rare earths that have been at the centre of the negotiations. 'China will, in accordance with the law, review and approve eligible export applications for controlled items. In turn, the United States will lift a series of restrictive measures it had imposed on China,' it said. Initial talks in Geneva in early May led both sides to postpone massive tariff hikes that were threatening to freeze much trade between the two countries. Later talks in London set a framework for negotiations and the deal mentioned by Mr Trump appeared to formalise that agreement, setting the stage for Mr Bessent's comments on Friday.
Glasgow Times
12 hours ago
- Business
- Glasgow Times
Beijing deal will speed China's export of minerals to US
The agreement comes after China retaliated against steep import tariffs imposed by the Trump administration on Chinese goods, and moved to slow the export of rare earth minerals and magnets much needed by US industrial interests. Mr Bessent said on Fox Business Network's Mornings With Maria that US President Donald Trump and Chinese President Xi Jinping 'had a phone call' previously 'and then our teams met in London, ironed this out, and I am confident now that we, as agreed, the magnets will flow'. 'Part of the agreement was tariffs coming down and rare earth magnets starting to flow back to the US,' Mr Bessent said. 'They formed the core of a lot of our industrial base. They were not flowing as fast as previously agreed.' His comments come after Mr Trump announced two weeks earlier an agreement with China that he said would ease exportation of magnets and rare earth minerals That pact cleared the way for the trade talks to continue. The US has previously suspended some sales to China of critical US technologies like components used for jet engines and semiconductors. But it has also agreed to stop trying to revoke visas of Chinese nationals on US college campuses. Mr Bessent added of critical mineral exports: 'What we're seeing here is a de-escalation.' Commerce secretary Howard Lutnick told Bloomberg TV that the deal was signed earlier this week. China's commerce ministry said on Friday that the two sides had 'further confirmed the details of the framework', though its statement did not explicitly mention US access to rare earths that have been at the centre of the negotiations. 'China will, in accordance with the law, review and approve eligible export applications for controlled items. In turn, the United States will lift a series of restrictive measures it had imposed on China,' it said. Initial talks in Geneva in early May led both sides to postpone massive tariff hikes that were threatening to freeze much trade between the two countries. Later talks in London set a framework for negotiations and the deal mentioned by Mr Trump appeared to formalise that agreement, setting the stage for Mr Bessent's comments on Friday.
South Wales Argus
13 hours ago
- Business
- South Wales Argus
Beijing deal will speed China's export of minerals to US
The agreement comes after China retaliated against steep import tariffs imposed by the Trump administration on Chinese goods, and moved to slow the export of rare earth minerals and magnets much needed by US industrial interests. Mr Bessent said on Fox Business Network's Mornings With Maria that US President Donald Trump and Chinese President Xi Jinping 'had a phone call' previously 'and then our teams met in London, ironed this out, and I am confident now that we, as agreed, the magnets will flow'. 'Part of the agreement was tariffs coming down and rare earth magnets starting to flow back to the US,' Mr Bessent said. 'They formed the core of a lot of our industrial base. They were not flowing as fast as previously agreed.' His comments come after Mr Trump announced two weeks earlier an agreement with China that he said would ease exportation of magnets and rare earth minerals That pact cleared the way for the trade talks to continue. The US has previously suspended some sales to China of critical US technologies like components used for jet engines and semiconductors. But it has also agreed to stop trying to revoke visas of Chinese nationals on US college campuses. Mr Bessent added of critical mineral exports: 'What we're seeing here is a de-escalation.' Commerce secretary Howard Lutnick told Bloomberg TV that the deal was signed earlier this week. China's commerce ministry said on Friday that the two sides had 'further confirmed the details of the framework', though its statement did not explicitly mention US access to rare earths that have been at the centre of the negotiations. 'China will, in accordance with the law, review and approve eligible export applications for controlled items. In turn, the United States will lift a series of restrictive measures it had imposed on China,' it said. Initial talks in Geneva in early May led both sides to postpone massive tariff hikes that were threatening to freeze much trade between the two countries. Later talks in London set a framework for negotiations and the deal mentioned by Mr Trump appeared to formalise that agreement, setting the stage for Mr Bessent's comments on Friday.
