Nikkei: Discrepancies have emerged over the details of China's agreement on rare earth

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Nikkei is reporting that:Discrepancies have emerged over the details of China's agreement with the US to pause rare earth export restrictions.Washington says pass controls will also be eliminated. China has not announced they were on board with that.There seems to be a bit of a disconnect. Earlier today, the Federal Register posted the details of an Executive Agreement whereby it said: Under the Arrangement, thePRC has committed to, among other things, postpone andeffectively eliminate the PRC's current and proposed coerciveglobal export controls on rare earth elements and other criticalminerals, and address Chinese retaliation against United Statessemiconductor manufacturers and other major companies in the3semiconductor supply chain. The PRC has also committed topurchase United States agricultural exports integral to theeconomy and general welfare of the United States, includingsoybeans, sorghum, and logs. And the PRC has committed tosuspend or remove many retaliatory actions against the UnitedStates, including suspending tariffs on a vast swath of UnitedStates agricultural products until December 31, 2026, andextending the PRC's market-based tariff exclusion process forUnited States imports until November 10, 2026.The United States, in turn, committed to, among otherthings, maintain the suspension of heightened reciprocal tariffson imports of the PRC until 12:01 a.m. eastern standard time onNovember 10, 2026.It was added that:I determined that it was necessaryand appropriate to address the emergency declared in ExecutiveOrder 14257 by suspending application of the heightenedad valorem duties imposed on the PRC under Executive Order14257, as amended, and to instead impose on articles of the PRCan additional ad valorem rate of duty of 10 percent. This article was written by Greg Michalowski at investinglive.com.