Business & Economy
Trump And Xi Move Toward Summit Talks As Tariffs, Tech Controls, And Rare Earth Access Remain Unsettled
The truce now depends on whether both sides trade concrete concessions.
The truce now depends on whether both sides trade concrete concessions.
Trump-Xi trade tensions now hinge on whether a fragile truce can hold across , , and . The deal eased immediate pressure, but China’s leverage over and Washington’s limits on show how quickly the rivalry can spill from trade policy into , with both sides still trying to turn short-term restraint into lasting advantage.
Reporting on the eve of the summit said both sides were weighing tariff relief, tech controls, and critical-mineral access, but no final trade-off had been settled. The immediate stakes were whether the would be extended, whether would be delayed, and whether China would keep stable for global industry.
News coverage ahead of the summit said agriculture, energy, rare earths, tariffs, and were all on the table, with the existing trade and technology due to expire in November. Investors and companies were warned that the outcome could quickly affect supply chains, prices, and access to key materials.
Reuters reported that Beijing wanted the US to delay a rule blocking thousands of Chinese firms from , while Washington wanted China to ease shipments of and critical minerals. Those items became the core for the upcoming talks.
Scott Bessent and Chinese He Lifeng were set to meet to prepare possible agreements on AI, tariffs, and ahead of a Trump-Xi summit. The agenda showed the dispute had expanded beyond tariffs into and supply-chain leverage.
The White House said China would address US concerns over rare earth shortages, but Reuters noted that Beijing’s remained in place. The story also said the deal did not settle whether the wider truce on Chinese rare earth restrictions, due to expire in November, would be extended.
Reuters reported that China was still of heavy rare earths even after the truce, leaving defense and manufacturing buyers short of key inputs. The reporting underscored that the agreement had eased headline tensions without eliminating Beijing’s over supply flows.
China said it would suspend its sweeping export controls on rare earths and other until November 2026. That move made the truce more concrete, but it also showed how dependent the deal was on a rather than a permanent rollback.
The White House released the main terms of the agreement, including a lower overall US tariff burden on Chinese imports and China’s one-year pause on rare earth and magnet controls. Beijing also agreed to issue for exports of rare earths, , , , and to US end users and suppliers.
At a high-stakes meeting in South Korea, Trump and Xi agreed to a fragile after months of pressure over tariffs and rare earths. China paused sweeping export controls on rare earths for one year, while the US cut from 20% to 10%.
China imposed on seven categories of after Donald Trump raised tariffs on most Chinese products to 54%. The controls hit materials used in weapons, electronics, and consumer goods, and they quickly turned the dispute into a supply-chain shock as well as a tariff fight.