Extract from a separate WSJ article:
US, CHINA AGREE ON KEY TRADE EXPORTS
rare-earth licences renewed
’…..Beijing, upset by a recent US warning targeting Huawei Technologies, all but choked off the supply of rare earths to American carmakers and defence contractors. Washington, in response, banned the sale of jet engines and other products China desperately needs.
Then just as quickly, the escalation by both sides was followed by a sigh of relief for businesses and investors worldwide: a phone call between Mr Trump and Mr Xi, and then renewed trade negotiations this week in London.
It was China’s chokehold on rare-earth exports that helped drive the parties to reconvene for the London talks, prompting the Trump administration to put US export controls – a key hurdle for China’s industrial and technological ambitions – on the table for the London negotiations. The Wall Street Journal
LYC Price at posting:
$8.67 Sentiment: Buy Disclosure: Held
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