Fight over Rare Earths Escalates as US and China Talk Trade
The United States and China on Tuesday agreed in principle on a framework to carry out an agreement they had reached last month to resolve their trade disputes, state media said. US President Donald Trump had spoken to Chinese President Xi Jinping last week in an attempt to put relations back on track, then announced the trade talks would resume in London.
The stock market went up after the U.S. and China agreed to reduce tariffs
The US has said that it’ll purchase $200 billion of goods from China after the two countries announced a temporary break from triple-digit tariffs. Meanwhile, China’s VicePremier He Lifeng said that the bilateral trade war between the US and China is “extremely frustrated with the US – China’s economic status”. The two countries have agreed to establish a consultation mechanism to continue addressing trade issues.
The United States and China agreed to lower their tariffs temporarily during the current trade war
The US and China have agreed to significantly reduce tariffs imposed on each other’s goods, after negotiators from both countries met over the weekend for trade talks in Switzerland. US Trade Representative Richard Bessent said that the two countries had also agreed to establish a consultation mechanism to continue addressing trade issues going forward. “We concluded that we have shared interest,” Bessent added.
There is progress in the trade talks between the US and China
The US and China have made “substantial progress” in the trade talks in Switzerland, US Treasury Secretary Scott Bessent said. He added that more details would be announced on Monday. US and China are currently in talks in Switzerland aimed at ending a trade war between the two countries. China has imposed tariffs on US$31 billion worth of goods.
China will probably play hardball in the U.S. tariffs talks
US Treasury Secretary Scott Bessent will meet his Chinese counterpart He Lifeng in Geneva this week for the first high-level US-China talks to end the trade war, the US said on Thursday. The two countries are set to remove tariffs on each other’s goods but maintain the 20% tariffs that have been imposed. Earlier, both countries had imposed tariffs on each other’s goods.
The global markets went down due to the trade war
US President Donald Trump has said he’ll take the “toughest possible action” against China if they don’t change their trade policies. He added, “I don’t want to see the US in a recession. There has to be a trade war.” However, he didn’t mention whether he’d introduce tariffs on China or other countries. This comes as China and the US prepare for a potential trade war.
Australia will not retaliate against the U.S. tariffs
India will reduce tariffs on several goods, including Harley-Davidson motorcycles, from February 13 when Prime Minister Narendra Modi will meet US President Donald Trump, the Commerce Ministry said. The move comes after China imposed retaliatory tariffs onHarley-Davidson motorbikes and motorcycles from the US and Canada. Earlier, South Korea had declared an “emergency response mode” over US’ 25% tariffs on steel and aluminum imports.
Mexico, Canada and China are included in the new phase of the trade war
Goods from Mexico and Canada will face a 25% import tariffs from February 1 under the proposed plan by US President Donald Trump. The White House has said Trump was very much considering tariffs on China on the same day. Trump has previously threatened up to a 60% tariff on goods from China, a 100% tariff on goods from Mexico and a 200% tariff on John Deere products imported into the US.
There is a reason why Asian countries are leading in green materials
Denmark has seen a steady increase in its share in materials science across the five years of Nature Index’s latest analysis, with a rise of 15% across the period. China and Singapore were the only two countries to have a high international collaboration scores between the two countries. Researchers working with their Chinese counterparts in Singapore could make up for high international collaboration scores.
China sent the first-ever samples from the far side of the Moon back to Earth
China’s Chang’e-6 spacecraft has landed on the Moon’s far side, where soil samples were extracted from the surface and taken back to Earth. The samples have been sent back to Earth as part of China’s “first-of-its-kind effort” to collect lunar samples. Chang’e-6 will be launched to Moon’s south pole in the first half of next year.