Greer says no broad China deal but rare earths are flowing in
The US trade representative says talks continue on a narrower board-of-trade agreement while rare earth shipments arrive, though not in the volumes Washington wants
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US trade representative Greer said there is no comprehensive agreement to be had with China, but that rare earth materials are coming into the country, even as he would prefer larger quantities.
Greer said the US and China keep talking on a board-of-trade agreement, with the Chinese side likely to cover consumer goods and low-tech items rather than a wider settlement.
The comments follow a weekend of trade and AI talks between Treasury Secretary Bessent and Chinese Vice Premier He Lifeng, which Bessent called a success. The two sides agreed to hold another meeting on AI, with the US proposing a notification system. China said afterward that it will work with the US to manage differences arising from the talks.
Greer also said nothing is off the table on Iran sanctions, as Iranian officials prepare to travel to New York for UN talks this week.
Greer's acknowledgment that rare earths are flowing in, even short of the volumes the US prefers, points to an easing rather than a tightening of a supply constraint that traders have watched closely. Set against ongoing talks that have yet to produce a comprehensive deal, it counts as a narrow gain on one specific issue, but it also weakens any case that severe supply disruption might justify a broader risk-on move in markets.