Trump and Xi reached agreements to reduce duties and lift restrictions on trade in rare earth minerals with China, which signaled a reduction in trade tensions.

Both leaders promised to "work together" on the conflict in Ukraine, although they revealed few details.

Trump announced plans to visit China in April and hinted at a broader trade agreement.

This news should remove some pessimism about the prospects for the global economy. "Shipments of rare earth metals from China to the United States in September fell by 28.7% from the previous month, while exports to Vietnam increased by 57.5%."

Americans are now in "Russian shoes" - they purchase REM through gray schemes through third countries (through Vietnam), as Russia does with many goods.