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The United States expects a quick agreement with China on the import of rare earth metals that are critical to modern technology. This was stated by White House economic adviser Kevin Hassett in an interview with ABC News.
The statement was made on the eve of a meeting between the US and Chinese delegations to be held in London on 9 June. Hassett said that despite the increase in Chinese exports to the US, the volume of supplies does not meet the previously agreed upon agreements in Geneva.
“President Donald Trump has already discussed this issue with Chinese leader Xi Jinping, and we are committed to getting this deal done soon – not through bureaucracy, but with a handshake,” Hassett said.
According to the adviser, both sides are demonstrating political will, and discussions on China’s conditions are still ongoing.
“We want rare earth elements, magnets and other critical components to arrive without delays, as they did before the beginning of April. And Beijing understands this,” he stressed.
Rare earth metals are used in the production of smartphones, computers, defence systems, electric vehicles and renewable energy sources. China is currently the world’s top exporter of these strategically important materials.
