UPDATE 1-Rare earths deal between US and China is still in effect, US official says

A rare earths deal between the United States and China is ‌still in effect and an extension will be announced at the appropriate time, a senior U.S. official told reporters on ‌Sunday. U.S. President Donald Trump and Chinese President Xi Jinping ‌will meet in Beijing on May 14 and 15. "It's still in effect.

A rare earths deal between the United States and China is ‌still in effect and an extension will be announced at the appropriate time, a senior U.S. official told reporters on ‌Sunday. U.S. President Donald Trump and Chinese President Xi Jinping ‌will meet in Beijing on May 14 and 15.

"It's still in effect. It doesn't expire yet," the official told reporters, adding conversations ⁠are ​ongoing but ⁠it wasn't clear yet if the deal will be extended. "I'm confident ⁠we'll announce any potential extension at the appropriate time." Trump and Xi ​are expected to discuss the U.S.-Israeli war on Iran, ⁠trade, Taiwan and other flashpoints when their two-day summit begins Thursday.

Their ⁠last ​meeting was in October in South Korea, where they agreed to pause a bruising trade war that ⁠had seen the U.S. impose triple-digit tariffs on Chinese goods and ⁠Beijing threaten ⁠to restrict the global supply of rare earths.