Japanese Prime Minister Sanae Takaichi and US President Donald Trump are in the final stages of preparing a joint document on securing rare earths and other critical minerals and strengthening supply chains, the Asahi Newspaper reported on Tuesday.The agreement, which the two leaders plan to sign during their meeting later on Tuesday, aims to address economic security concerns following China’s move in October to tighten export controls on rare earths, which are crucial for a wide range of products from smartphones to fighter jets, the paper said, citing Japanese government officials.
In response to China’s dominance in global production, the White House had initially planned to impose a 100% additional tariff on Chinese exports. But Washington and Beijing on Sunday reached a framework for a trade deal that could pause planned U.S. tariffs and Chinese export controls on critical minerals.
Trump and Chinese President Xi Jinping are due to meet on Thursday on the sidelines of the Asia-Pacific Economic Cooperation summit in South Korea to sign off on the terms.Read Also: MCX trading remains halted as technical glitch halts ops for nearly two hours
