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Rare Earths Keep US, China Linked Amid Trade Talks
Posted
June 9, 2025
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June 9, 2025
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5:53Now PlayingGracelin Baskarian, Director of the Critical Minerals Security Program at CSIS, breaks down the rare earth supply chain that keeps the US and China connected, as tech innovation grows increasingly reliant on the materials.
The US and China are set to resume trade negotiations in London on Monday in a bid to further defuse tensions over rare-earth minerals and advanced technology following a phone call between leaders Donald Trump and Xi Jinping last week.
Both sides have accused the other of reneging on a deal in Geneva in May, when they reached an agreement to at least temporarily lower tariffs that had climbed to more than 100%. After reaching an understanding with Xi on resuming flows of critical minerals, Trump said he expected the London meeting to go “very well.”
China said Saturday it approved some applications for rare-earth exports, without specifying which countries or industries were involved.
“We want the rare earths, the magnets that are crucial for cell phones and everything else to flow just as they did before the beginning of April, and we don’t want any technical details slowing that down,” Kevin Hassett, head of the National Economic Council at the White House, said Sunday on CBS’s Face the Nation. “And that’s clear to them.”
US-China trade tensions escalated this year as Trump hiked duties on Chinese goods, prompting retaliation from Beijing. While the Geneva deal was meant to pave the way for a broader de-escalation, subsequent talks quickly stalled amid mutual recriminations.
The US complained about a decline in shipments of rare-earth magnets essential for American electric vehicles and defense systems. China bristled at US restrictions on artificial intelligence chips from Huawei Technologies Co., software for designing chips, plane engines and visas for upwards of 280,000 Chinese students.
In London, US Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and US Trade Representative Jamieson Greer will meet a Chinese delegation led by Vice Premier He Lifeng. The addition of Lutnick, who’s in charge of curbs on the sale of advanced technology, signals Trump may be willing to consider reversing some of the restrictions that threaten to hobble China’s long-term growth ambitions.
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