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US-China trade talks progressing slowly

Business

Trade talks between the US and China are dragging on, and the July 2025 tariff deadline might get pushed back.
The big sticking point? China controls about 90% of rare earth processing—the stuff that powers electric cars, smartphones, and clean energy tech.
With China limiting exports, industries in the US, Europe, and India are feeling the squeeze.

China's dominance in rare earths limits US leverage in talks

China's grip on these key materials means the US has less leverage in negotiations.
Even though President Trump wants new tariffs to kick in soon, delays are making that uncertain.
Meanwhile, countries like India, Vietnam, and Japan are working out their own deals with the US—showing how global trade is shifting as everyone tries to keep their supply chains secure.