China’s Continued Control of Rare Earths Looms Over Trump-Xi Meeting

The impending meeting between President Trump and Chinese President Xi Jinping has taken on added significance as China continues to exert control over the global supply of rare earths, a group of 17 critical elements used in a wide range of high-tech products. Constrained supplies are already being felt by manufacturers, who rely on these materials for everything from smartphones and electric vehicles to advanced ceramics and missile guidance systems.

The Trump administration has been vocal about its concerns over China's dominance of the rare earths market, which accounts for approximately 80% of global production. The U.S. has been pressing China to relax its export restrictions, which have been in place for over a decade. China's control of the market has significant implications for global industry, as it can limit access to these critical materials and create uncertainty for companies that rely on them. This is particularly concerning for the U.S., which has been seeking to reduce its dependence on Chinese imports and promote domestic production.

As the Trump-Xi meeting approaches, all eyes will be on the potential for a breakthrough on rare earths and other trade issues. The outcome will have significant implications for the global economy and for industries that rely on these critical materials. To watch next: the tone and outcome of the Trump-Xi meeting, as well as any potential announcements from China regarding changes to its rare earths export policies. The ongoing trade tensions between the U.S. and China are also likely to continue to impact the global market, with companies and investors closely monitoring developments.

Originally reported by nytimes.com. MyNews adds analysis for general news readers.