China has been very swift in approving US rare earth magnet licenses, which the US is pleased with and therefore has lifted some countermeasures, starting exports of ethane, software products, and aircraft parts to China, US Commerce Secretary Howard Lutnick told CNBC.He stated that the two countries are now in a good situation and hope to hold talks on larger-scale trade issues in early August. Related NewsInflation Rate YoY for June in China is 0.1%, higher than the previous value of -0.1%. The forecast was 0.0%.