US-China trade truce leaves military-use rare earth issue unresolved, sources say
The renewed US-China trade truce struck in London left a key area of export restrictions tied to national security untouched, an unresolved conflict that threatens a more comprehensive deal, two people briefed on detailed outcomes of the talks told Reuters.
Beijing has not committed to grant export clearance for some specialized rare-earth magnets that US military suppliers need for fighter jets and missile systems, the people said. The United States maintains export curbs on China’s purchases of advanced artificial intelligence chips out of concern that they also have military applications.
At talks in London last week, China’s negotiators appeared to link progress in lifting export controls on military-use rare earth magnets with the longstanding US curbs on exports of the most advanced AI chips to China. That marked a new twist in trade talks that began with opioid trafficking, tariff rates and China’s trade surplus, but have since shifted to focus on export controls, according to Reuters.
In addition, US officials also signalled they are looking to extend existing tariffs on China for a further 90 days beyond the August 10 deadline agreed in Geneva last month, both sources said, suggesting a more permanent trade deal between the world’s two largest economies is unlikely before then.
Speaker Ghimire talks with Aryal, Lingden in bid to resume House proceedings
Speaker Devraj Ghimire today held discussions with Acting Chair of the Rastriya Swatantra Party (RSP) Dol Prasad Aryal, and Chair of the Rastriya Prajatantra Party (RPP) Rajendra Lingden seeking their cooperation to create an environment conducive to ending the ongoing obstructions in the House.
During his meeting with Aryal at New Baneshwor, the Speaker urged the RSP to change the form of parliamentary protest, keeping in mind the constitutional obligation to begin budget discussions within the stipulated timeline.
In response, Aryal stated that the party would continue its obstruction but pledged to make parliamentary proceedings more decent.
It may be noted that the chief whips of various political parties had earlier drawn the Speaker’s attention to ‘non-parliamentary performance' during the House of Representatives (HoR) obstruction on Friday.
The Speaker also sought the cooperation of RPP Chair Lingden in resuming House business.
According to the Speaker’s private secretariat, he spoke with Lingden over the phone, requesting him to consider the constitutional necessity of starting budgetary discussions and to cooperate in resuming House proceedings.
Japan's Ishiba heads to G7 to press Trump to drop auto tariffs
Japanese Prime Minister Shigeru Ishiba heads to Canada on Sunday for trade talks with US President Donald Trump, hoping to persuade him to drop trade tariffs that have imperilled Japan's auto companies and threaten to undermine his fragile government, Reuters reported.
The two are expected to meet on the sidelines of a summit of the Group of Seven nations in Kananaskis, Alberta, for their second in-person encounter. It follows a sixth round of high-level trade talks in Washington on Friday.
Japan's top tariff negotiator, Ryosei Akazawa, said he explored the possibility of an deal in detailed meetings with U.S. Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick.
The trick for Ishiba, who spoke with Trump by phone on Friday, will be to get the president to drop the 25% tariff he imposed on Japanese cars, as well as a paused 24% across-the-board levy that Trump calls a reciprocal tariff, without making concessions that could hurt the prime minister's public support at home, according to Reuters.
Macron visits Greenland in show of European unity and signal to Trump
In a sign of Greenland's growing importance, French President Emmanuel Macron is visiting the Arctic island today, in what experts say is a show of European unity and a signal to Donald Trump, BBC reported.
Stepping foot in the capital Nuuk this morning, Macron will be met with chilly and blustery weather, but despite the cold conditions, he'll be greeted warmly.
"This is big, I must say, because we never had visits from a president at all, and it's very welcomed," says veteran Greenlandic official, Kaj Kleist.
Nuuk is a small city of less than 20,000 people, and the arrival of a world leader and his entourage, is a major event, according to BBC.
"I think that people will be curious, just hearing about it," says consultant and podcast host Arnakkuluk Jo Kleist. "I think they'll be interested in, what his message is going to be."
