Overview

• Top US and Chinese trade envoys met in London on June 9 to salvage a 90-day tariff truce by addressing export controls, duties and technology restrictions
• China’s Ministry of Commerce confirmed approval of some qualified rare earth applications and proposed a green channel to fast-track licences for EU firms
• US officials, including National Economic Council Director Kevin Hassett, say shipments remain below Geneva deal levels and warn that higher tariffs could be reinstated
• Customs data show China’s rare earth exports rose 23% in May from April but still lagged year-earlier volumes, underscoring ongoing supply chain strains
• Negotiations will also cover US export controls on Huawei AI chips and recent US visa revocations for Chinese students that Beijing says breach the Geneva accord