How China’s Rare-Earths Control Defined Tentative Trade Deal With U.S.

WSJ What’s News

The Wall Street Journal

News, Daily News

4 • 4K Ratings

🗓️ 11 June 2025

⏱️ 13 minutes

🔗️ Recording | iTunes | RSS

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Summary

P.M. Edition for June 11. China’s lock over rare-earth magnet exports helped bring the U.S. back to the bargaining table over trade. WSJ economic policy reporter Gavin Bade discusses how China gave the U.S. some access in the tentative deal, but kept some control, which gives it leverage in future trade negotiations. Plus, arrests grow as more cities plan demonstrations after the unrest in Los Angeles. Journal reporter Sara Nassauer explains how Home Depot became Ground Zero in President Trump’s deportation push. And U.S. consumer prices rose slightly in May, defying fears that tariffs would have driven up prices. WSJ investing columnist Spencer Jakab talks about what that means for the Fed’s meeting next week. Alex Ossola hosts. Sign up for the WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Americans love using their credit cards, the most secure and hassle-free way to pay.
0:04.0	But DC politicians want to change that with the Durban Marshall Credit Card Bill.
0:08.0	This bill lets corporate megastores pick how your credit card is processed,
0:13.0	allowing them to use untested payment networks that jeopardize your data security and rewards.
0:18.0	Corporate megastores will make more money and you pay the price.
0:22.1	Tell Congress to guard your card because Americans lose when politicians choose. Learn more at
0:28.1	guard your card.com.
0:33.0	How China's hold on rare earths dictated the path towards a tentative trade deal with the U.S.
0:38.8	I don't think there's a lot of clarity for businesses.
0:42.1	What you can say is the auto companies aren't going to have to shut down plants tomorrow,
0:45.9	but certainly they're going to have to be watching this issue going forward.
0:49.3	Plus, U.S. inflation was muted in May, defying fears that President Trump's tariffs would drive up prices.
0:56.0	And the governor of Texas plans to deploy the National Guard as protests against immigration
1:01.0	enforcement spread across the country.
1:03.8	It's Wednesday, June 11th.
1:05.6	I'm Alex Osloaf for the Wall Street Journal.
1:08.0	This is the PM edition of What's News, the top headlines and business stories that move the world today.
1:16.3	President Trump said today that the U.S. and China had agreed on terms for a truce on trade.
1:22.1	As we reported this morning, the framework for the deal, which the U.S. and China negotiated over two days in London this week,
1:28.8	hinged on access to China's exports of rare earth magnets,
1:32.6	coin-sized components that are indispensable for powering car motors, industrial robots, and missile guidance systems.
1:39.4	An administration official confirmed that tariffs will stay at levels agreed to in the deal signed in Geneva last
	...

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