US, China Begin London Talks on Rare Earth Trade Flows

Senior US and Chinese officials are set to resume trade talks in London, focusing heavily on the flow of China's rare-earth mineral exports, crucial for American industries like defense and electric vehicles. These negotiations follow a May agreement in Geneva and a recent phone call between President Trump and Chinese President Xi Jinping, with Trump describing it as a "very good talk" and emphasizing the need for uninterrupted rare-earth shipments. US economic adviser Kevin Hassett highlighted that while China has increased exports of critical minerals, the flow has not yet met the levels agreed upon. The discussions also coincide with the looming expiration of a US tariff reprieve on Chinese goods in August, with tariffs potentially reinstated if no deal is reached. Both sides appear motivated to clarify and enforce terms to stabilize trade relations, including addressing US restrictions on technology exports and Huawei's chips. The talks represent a critical opportunity to resolve ongoing tensions and ensure the supply of vital rare-earth magnets essential for various technologies.