China has agreed to buy two types of rare earth metals from the United States as part of an initial trade deal inked on Wednesday, a move likely to boost US production of the strategic minerals.
The agreement, signed in Washington by Chinese Vice Premier Liu He and US President Donald Trump, gives China two years to ramp up purchases of hundreds of US products, including scandium and yttrium, two of the 17 rare earths commonly used in lighting and computers.
It was a surprising about-face for China, whose status as the top global producer of the specialized minerals used to make electronics, military weapons and other high-tech equipment was seen as giving it leverage in its trade war with Washington.