Photo: economictimes.indiatimes.com
"Unlocking Rare Earths: Key to Global Manufacturing Amid US-China Talks"
US President Donald Trump and Chinas Xi Jinping agreed to continue the flow of rare-earth element exports, crucial for global manufacturing and technology, during their summit in South Korea.
- During their summit in South Korea, Donald Trump and Xi Jinping reached an agreement to maintain the export of rare-earth elements from China, essential for various technologies.
- Rare-earth elements such as lanthanide, yttrium, and scandium are vital in producing components like magnets used in electronics and clean energy technologies.
- The ongoing trade negotiations underscore Chinas dominance in the rare-earth element market, raising concerns for the US regarding its manufacturing supply chains and technology competitiveness.
Why It Matters
Rare-earth elements are critical to the global economy, affecting everything from electronics to renewable energy. This agreement highlights the geopolitical stakes involved in resource control and international trade dynamics.