On Friday, China announced it has finalized details of a trade agreement with the United States to supply critical rare earth minerals, as President Trump pursues more deals worldwide.
Richard Frost for Bloomberg News:
It’s been a week of wins for US President Donald Trump. A ceasefire between Israel and Iran, NATO agreed to increase defense spending to 5% of GDP, and China on Friday saying it has further confirmed details of a trade framework with Washington under which it will deliver key rare earths.
Officials from both countries have maintained close contact after holding trade talks in London earlier this month, a spokesperson for the Chinese Commerce Ministry said. The China deal, which US Commerce Secretary Howard Lutnick said had been signed two days ago, codifies the terms laid out in trade talks between Beijing and Washington, including a commitment from China to deliver rare earths used in everything from wind turbines to jet planes.
In a Thursday interview, Lutnick said the US would lift “countermeasures,” but only once rare earth materials start flowing from China. Those US measures include export curbs on materials such as ethane.
Separately Trump said a “very big” trade deal could be signed soon that would open up the Indian market to American business, as negotiators meet in Washington to break a recent deadlock over key issues.
“We are having some great deals. We have one coming up, maybe, with India, a very big one, where we are going to open up India,” Trump said at an event at the White House.
MacDailyNews Take: With both China and, increasingly, India crucial to Apple’s product production and assembly, any deals between each of these two countries and America is good news for Apple and Apple shareholders.
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Even Torsten Sløk, chief economist at Apollo Global Management and a consistent skeptic of President Trump’s tariffs, now concedes: “Maybe the administration has outsmarted all of us.”
https://www.apolloacademy.com/is-trump-a-genius/
In your fevered dreams. China holds all the aces, and you know it.
Presumptuously saying, “and you know it,” surely implies you know it. What inside track gives one such confidence is more than curious…and like mentioned earlier; presumptuous.
How does history generally record communist cultures/economies?
History right now is recording China growing consistently at 3x the rate of US GDP. Moreover, to sustain its extravagant lifestyle, lazy Americans are running huge deficits both at consumer and government levels.
While the US stagnates and chooses internal bickering instead of collaboration, China is poised to be the world’s uncontested superpower by all objective measures within a decade or two.
China’s economic diplomacy has looped in natural resource supplies from every continent. The US, meanwhile, is burning trade agreements and insulting longtime allies.
Hope you enjoy the taste of bitcoin, because if China chose to halt imports to the USA for 3 months or if immigrant labor refused to work US farms for a season, then the feckless fatass youth of the USA would be doing what they do best … whining on TikTok.
I’m not here to do your homework for you. You can check for yourself how many small businesses are created each year in China, and how many patents companies like BYD file per day. This site has decided that its mango mussolini is going to wave his tiny hands and magically the trains will run on time. Unfortunately, instead the USA is engaging itself in mideast wars as every single GOP president is strangely compelled to do. To make a show of force, the military largesse is not financed by the current generation, it’s another several trillion in debt that fatman used to claimed he was going to pay off.
You know very well that regardless of political system, a fat indebted overpriced hyper consumer society that is sharply returning to a feudal oligarchy with massive uneducated poor and a few chosen billionaire kingmakers isn’t a great historical play either.
The USA will fall if it doesn’t reduce military overseas adventures, balance the budget, and dramatically increase domestic infrastructure, education, and health standards.
Pissing off democratic allies, cozying up to dictators, attacking Americans who don’t pledge allegiance to magaism, and wrecking world trade accomplishes nothing good for the USA. Don’t take my word for it. Watch as the dollar falls in value, stagflation takes hold, and dumpty goes around randomly picking scapegoats.
Eisenhower was the last great American president. He warned us what would happen if we let corporations and oligarchs rule. We should return to the tax rates and trade policies of his era, when America was objectively and measurably great compared to other nations.
https://www.fa-mag.com/news/with-stagflation-on-the-horizon–apollo-says-bet-on-businesses-with-strong-cash-flow-83047.html
If the stated tariff policy is followed, which of course is impossible to tell when tacos are involved, Slok predicts historic stagflation.
The only reason the magat class continues to support this reckless policy is that the effects haven’t hit yet.
Next year, the whining over the price of eggs and gasoline will be a quaint memory. Consumer prices will jump at least 15%, because approximately 3/4 of multinational corporations (the ones that finance most political campaigns) have absolutely zero incentive to eat the costs of import tariffs. Americans have dug a huge credit debt, and are largely ignorant of financial matters, so they will keep deficit spending to fuel their lifestyles.
Modern Rome is already alight and Nero is busy golfing.
https://www.reuters.com/business/autos-transportation/elon-musk-says-senate-bill-would-destroy-jobs-harm-us-2025-06-28/
Digging the debt faster than ever while meddling in what used to be fair open markets is the surest way America can implode itself. China doesn’t need to do anything but sit back and watch narcissistic idiocy play out.