How China Could Wield Its Control of Rare Earths Against Trump
The New York Times • • business
Key Points:
- President Trump is set to meet China’s top leader in Beijing amid ongoing tensions over China’s export restrictions on rare-earth metals crucial for advanced manufacturing in the US, EU, and Japan.
- China halted most exports of rare earths in April last year, causing severe shortages and price surges of up to 100 times for these metals, which are vital for industries like aerospace, electronics, and military hardware.
- In October, China announced plans for new broad restrictions on rare earth exports but agreed to delay these for a year after discussions between Xi Jinping and Trump, while existing April restrictions remain.
- US officials are in frequent communication with China regarding rare earths, and although it is uncertain if this week’s summit will yield an extension of the export reprieve, confidence remains that an agreement will be reached before the current postponement expires.