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

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  How China's hold on rare earths dictated the path towards a tentative trade deal with the US.

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  I don't think there's a lot of clarity for businesses.

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  What you can say is the auto companies aren't going to have to shut down plants tomorrow,

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  but certainly they're going to have to be watching this issue going forward.

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  Plus, US inflation was muted in May.

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  defying fears that President Trump's tariffs would drive up prices.

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  And the governor of Texas plans to deploy the National Guard as protests against immigration enforcement spread across the country.

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  It's Wednesday, June 11th.

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  I'm Alex Zosala for The Wall Street Journal.

• 00:37

  This is the p.m. edition of What's News,

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  the top headlines and business stories that move the world today.

• 00:46

  President Trump said today that the U.S. and China had agreed on terms for a truce on trade.

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  As we reported this morning, the framework for the deal,

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  which the U.S. and China negotiated over two days in London this week,

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  hinged on access to China's exports of rare earth magnets,

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  coin-sized components that are indispensable for powering car motors,

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  industrial robots, and missile guidance systems.

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  An administration official confirmed that tariffs will stay at levels agreed to in the deal signed in Geneva last month.

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  Gavin Bade covers economic policy for the journal and is here to tell us more.

• 01:19

  Gavin, earlier this year,

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