US, China formalize deal on rare earth shipments | CNN Business

Hong Kong CNN  — 

China on Friday signaled it would approve the export of rare earth minerals to the US, hours after White House officials said the two sides had reached a deal, in what would be a major breakthrough following weeks of negotiations over US access to the key materials.

Rare earths – essential in everything from everyday electronics to fighter jets – had become a key focus of trade frictions between the world’s two largest economies in recent weeks as their tit-for-tat tariff escalation morphed into a supply chain struggle.

“China will

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