00:00The United States and China have struck a deal to speed up rare earth shipments amid efforts to end the trade war between the world's two largest economies.
00:10Beijing has confirmed the deal, pledging to keep approving export permits of controlled items in accordance with the law.
00:17US President Donald Trump says the pact was signed yesterday, offering no further details.
00:23But the deal signaled a step closer to a full trade deal between the two superpowers, formalizing initial trade talks in Geneva in early May.
00:32Earlier, US Commerce Secretary Howard Ludnik had said that countermeasures on China will be removed once the minerals arrive.
00:40He also said that Trump intended to finalize multiple trade deals within two weeks as the 9th July deadline to restore tariffs paused in April news.
00:51He named no partners, though it was previously hinted that a deal could be closed with India.
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