China’s rare earth shipments to the US fell nearly 30% in September — even before Beijing announced its latest export restrictions.
China “knows it holds a key card” in trade talks and shows no sign of backing down, one analyst said, while US President Donald Trump’s eagerness to strike a deal signals that Washington knows how much leverage China has in the critical sector, the Financial Times’ Gideon Rachman argued.
The US is turning to Australia for help: On Monday, the countries struck an agreement to boost rare earth production and counter China’s dominance. The pact fits a broader pattern of Canberra’s efforts to thwart Beijing’s diplomatic and security-related influence, The Economist wrote.