Trump Optimistic on China Trade Deal Amid Rare-Earth Tensions
President TRUMP expressed confidence in reaching a "fantastic trade deal" with China by month's end, despite escalating tariffs and a rare-earth minerals standoff. Negotiations are progressing positively, with both nations locked in a high-stakes economic confrontation.
The U.S. and Australia unveiled a $1 billion rare-earth processing partnership, aiming to reduce reliance on Chinese supplies. These minerals are critical for military technology and consumer electronics, highlighting the strategic importance of the deal.
Tensions flared further as China imposed new export restrictions on rare earths, prompting Trump to threaten 157% tariffs on Chinese goods if no agreement is reached by November 1. The trade war has already devastated U.S. soybean exports to China, once a primary market for American farmers.
