Catenaa, Monday, August 04, 2025- China’s exports of rare earth magnets were the key focus of US-China trade talks that were held in Stockholm last week, as the two nations are “about halfway there” on a deal.
US Trade Representative Jamieson Greer said on Sunday that rare earths were a key focus in last week’s Stockholm talks. He told CBS the US had secured supply commitments from China but noted the two sides are “about halfway there.”
“We’re focused on making sure that magnets from China to the United States and the adjacent supply chain can flow as freely as it did before the control,” Greer said in the interview, which was taped Friday. “And I would say we’re about halfway there.”
Greer also said that the latest round of tariffs is “pretty much set” and unlikely to change.
Meanwhile, President Trump is pressuring India and China to stop buying oil from Russia and Iran, according to a report on Monday.
China called the demand a key hurdle in trade talks, saying it “will always ensure its energy supply in ways that serve our national interests.” India hasn’t committed to stopping purchases and is urging citizens to support local goods.
Meanwhile, on Friday, Trump signed an order to hike tariffs on Canada to 35%, while he kept a baseline minimum rate of 10% across all partners, as the US is set to implement duties this week that will dramatically change the US trade landscape.
The President signed an order to end the de minimis exemption on low-value imports under $800, thereby applying tariffs from August 29.
