🇺🇸🇨🇳 Wall Street Journal: US-China trade tensions flare up again because of rare earths and Huawei ban

The trade truce agreement between the US and China is in danger of breaking up. The reason is that President Trump's administration believes that China has not kept its commitment to accelerate the export licensing of important minerals such as rare earths.

– A few weeks ago, the US asked China to resume the export of rare earths. In return, the US will suspend the imposition of tariffs within 90 days

– Chinese Deputy Prime Minister Ha Lap Phong agreed to this request at the last minute during prolonged negotiations with US Treasury Secretary Bessent and US Trade Representative Greer in Geneva

– However, China then hesitated when the US Department of Commerce on May 12 suddenly issued a warning about the ban on the use of Huawei's AI Ascend chip, which made Beijing see this as a new provocative action of Washington.