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The US and China have formalized a deal to ensure steady shipments of rare earth minerals, easing trade tensions and securing critical supply chains for technology and defense industries.

Asia markets steadied and the dollar weakened Tuesday after a truce in the Middle East eased geopolitical tensions. Investors showed cautious optimism as risk sentiment improved across the region.

The US current account deficit surged to a record high, reflecting rising trade imbalances and increased foreign borrowing. Economists warn this could impact the dollar’s stability and global financial markets.