The U.S. and China have a framework to resolve their trade disputes
China’s export controls for refined rare earths are “driven by its domestic industrial sustainable development needs”, the country’s state-run Xinhua news agency said. This comes as US President Donald Trump held talks with his Chinese counterpart Xi Jinping to discuss a second round of tariffs between the two countries. Earlier, the US had raised its tariffs on rare earths from 10% to 30%.
The fight over rare earths is escalating between the US and China
US President Donald Trump said that China is aware of the importance of rare earths export controls. “China is aware of the importance of the rare earth export controls. We are doing well with China,” Trump said. US has cut its base tariffs on goods from China to 30%, while China cut tariffs to 10%.
Let’s read mean posts by Trump and Musk
Elon Musk, who quit his post as the White House’s Chief of Staff last week, said he agreed with a post suggesting President Donald Trump should be impeached. “I think it’s time to create a new political party in America that actually represents 80% in the middle,” Musk said. He added, “I don’t think he should go down in history as one of the worst presidents.”
Trump says he hadn’t seen Musk in awhile, but he and Musk had a good relationship
US President Donald Trump has pulled Elon Musk’s nominee for NASA on Saturday, claiming that the billionaire was “not up to the task”. Trump had accused Musk of being involved in a “far-right movement”. Musk had said Trump pulled his nominee because he “doesn’t think he has the guts” to do the job.
Harvard’s president says they should “stand firm” as Trump targets elite schools
Several schools in Hong Kong have invited international students at Harvard to join their institutions, following US’ decision to ban the American institution from enrolling foreign students. Last week, US President Donald Trump banned international students from attending Harvard and other major universities for a period of up to three years. Harvard University has sued the US government over the ban.
Trump has an order to reduce drug prices, but it’s unclear how it would work
US drug prices have been priced “too hard to please” and have gone the next level, said Jolley, a consulting firm. This comes after US President Donald Trump signed an executive order asking drugmakers to bring down the prices Americans pay for prescriptions. If drugmakers don’t do it voluntarily, the administration is threatening to directly tie drug prices paid by government programs to those paid in other countries.
It is believed that a new plane is being given to Trump
A professor at Columbia Law School has said if US President Donald Trump gives a 747 aircraft to the US after he leaves office, it’s not really a gift to the US. “So the fact that the Defence Department is getting a GIFT, free of charge, of a 747 aircraft to replace the 40 year old Air Force One, temporarily, in a very public and transparent transaction,” he added.
Trump’s movie tariffs plan is causing confusion around the world
US President Donald Trump has announced that he’ll impose a tax of 100% on films and TV shows shot outside the US. The move aims to “protect our jobs” and “protect American film makers”, he added. Trump had earlier asked US Trade Representative Representative Robert Lighthizer to draft measures that would “protect US film and television companies from unfair trade practices”.
GM thanks Trump for the big hit it expects to take
General Motors CEO Mary Anne Barr said the company was “in a period of waiting for a bit more clarity” on US President Donald Trump’s tariffs on imports of cars from Canada and Mexico. Barr added, “That’s a question we’ll have to answer soon.” Earlier, Stellantis, the parent company of Jeep, Dodge, and Ram, also scrapped its outlook for the year.
The ‘golden age’ for the economy was promised by Trump
US President Donald Trump has said he’d like to temporarily lift the 10% tariffs on American-made products imported from China. “We want to be sure we don’t do anything that would lead to even higher tariffs,” he said. Trump added that he’d like to think about this possibility for a few weeks. However, he hasn’t said when the tariffs would be lifted.