Rare earths friction threatens to stall trade truce extension ahead of Xi-Trump summit

AI Summary

The US and China are in a tense negotiation over extending the 2025 Busan trade agreement ahead of President Xi Jinping's visit to Washington. The US accuses China of withholding strategic mineral exports, causing uncertainty about the trade pact extension.

The US and China continue to wrangle over extending the 2025 Busan trade agreement just hours before Chinese President Xi Jinping arrives in Washington for a state visit, even as they report progress on implementing a narrow tariff-reduced trade mechanism. US Trade Representative Jamieson Greer on Monday blamed China for creating “uncertainty” over the pact’s extension, saying Beijing was still holding out on supplying enough strategic mineral exports to the United States. “They have limited...