US-China trade talks set for next week amid rare earths row
China and the US will hold fresh trade talks next week after tensions rose over China's limits on exporting rare earth minerals—materials essential for making smartphones, EVs, and military gear.
Both sides described their recent video meeting as having "candid, in-depth and constructive exchanges," hoping to ease the standoff that started with China's export controls announced back in April.
Talks, Xi-Trump meeting could have long-term impact on global trade
The US has warned it could slap 100% tariffs on Chinese goods if things don't improve.
Since China supplies over 90% of the world's rare earths, this fight could shake up everything from tech prices to defense supplies worldwide.
G7 countries are scrambling to find other sources but say it'll take time.
The outcome of these talks—and an upcoming Trump-Xi meeting at the APEC summit later this month—could shape global tech and trade for years to come.