Following his meeting with Chinese leader Xi Jinping, Donald Trump was bursting with ebullient excitement. On a scale of 1 to 10, he named it a “great success” and gave it a score of 12. China wasn’t as excited. Beijing’s first statement, in which Xi urges teams on both sides to “follow up as soon as possible,” sounds like an instruction manual.
While Beijing seems to be playing the long game and wants to continue the conversation, Trump is pursuing a deal that might be finalized “pretty soon.Trump’s remarks aboard Air Force One were repeated in a second, more thorough Chinese statement.
Among other things, China would lift restrictions on exporting rare earths, which are vital minerals that are used to produce cellphones, electric vehicles, and—possibly more importantly military hardware. At the same time, the US would reduce duties on Chinese imports.
Negotiators on both parties have already been discussing the specifics for months, but there is still no agreement. The deal reached on Thursday is still a breakthrough, though. It guarantees international markets and stabilizes the tense relationship between the two largest economies in the world.
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