As part of an interim deal to reduce tariffs, China has agreed to remove or suspend non-tariff countermeasures taken against the U.S. since April 2, 2025. This includes lifting restrictions on rare earth minerals and magnets. The deal also involves the U.S. temporarily lowering tariffs on Chinese goods from 145% to 30%, while China will cut its levies on American imports from 125% to 10%.
AI Overview
On April 4th, China retaliated against US tariffs by restricting the export of seven rare earth elements, including samarium, gadolinium, terbium, dysprosium, lutetium, scandium, and yttrium. This move required exporters to obtain special licenses before selling the affected rare earths and related items outside of China.
