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US-China trade truce leaves military-use rare earth issue unresolved: Report
- The United States and China struck a renewed trade truce in London last week, but unresolved export restrictions on military-use rare earth magnets remain.
- The truce followed Geneva talks last month that reduced bilateral tariffs but faltered due to Beijing's April restrictions on critical mineral exports, including specialized rare earths needed by U.S. military suppliers.
- China dominates global production and processing of rare earths, while the U.S. maintains longstanding export curbs on advanced AI chips to China citing military application concerns, complicating negotiations.
- President Trump described the London agreement as an excellent deal, stating that the necessary elements are in place and the outcome will be successful, while Treasury Secretary Bessent rejected any suggestion of a quid pro quo involving the relaxation of AI chip export restrictions in exchange for rare earth materials.
- The unresolved rare earth export controls threaten a broader trade agreement, with experts noting the fundamental trade imbalance likely cannot be resolved during Trump's remaining term.
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America and rare earths: a little urgency, please
America usually has other countries over a barrel. Not the other way around – unless you’re old enough to remember when the Organization of Petroleum Exporting Countries (OPEC) cracked the whip and Washington and the West usually fell in line. But last week China forced President Trump to back down on tough tariffs that were […] The post America and rare earths: a little urgency, please appeared first on Asia Times.
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The US and European stock markets have returned to or even exceeded the levels before the tariffs were implemented in early April.
Rare earths are hidden in Germany, which nobody is paying attention to. Nevertheless, the country is dependent on China. What is the reason for this?
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Total News Sources40
Leaning Left8Leaning Right8Center6Last UpdatedBias Distribution36% Left, 36% Right
Bias Distribution
- 36% of the sources lean Left, 36% of the sources lean Right
36% Right
L 36%
C 27%
R 36%
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