Trump Talks Rare Earth Minerals with Xi

On Friday, President Donald Trump shared that China’s President Xi Jinping has agreed to resume the export of rare earth minerals to the U.S. This comes after a pause in shipments that began in April.

During a lighthearted moment aboard Air Force One, a reporter asked Trump about the situation. His response was, “Yes, he did. We are making great progress in China’s trading.” It’s interesting to note that these minerals are crucial for manufacturing cars, robotics, and defense systems in the U.S., especially considering China had previously halted exports of seven important minerals.

According to reports, the halt in deliveries began when new licensing rules took effect on April 4, requiring companies to obtain special export licenses for rare earth materials. This situation posed a challenge to Trump’s tariff strategy, as China accounts for about 90% of the world’s key mineral supply.

Additionally, this mineral export interruption followed sanctions imposed by Beijing on several U.S. military contractors in response to arms sales to Taiwan. Trump and Xi had engaged in a lengthy phone call on Thursday, discussing the ongoing economic and national security tensions arising from trade issues between the two countries.

Trump later remarked on his social media platform that the call had gone well and focused primarily on trade complexities. Just a week prior, he had criticized China for not adhering to an earlier trade agreement reached in May, expressing his belief that dealing with Xi is challenging.