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Trump Says Xi Agrees to Restart Rare Earth Exports as US-China Talks Set for June 9

Former U.S. President Donald Trump announced that Chinese President Xi Jinping has agreed to restart exports of rare earth materials, a key development as trade negotiators from both countries prepare to resume high-stakes talks in London on June 9.

The announcement follows a 90-minute call between the two leaders on Thursday, during which they agreed to ease mounting tensions over tariffs, technology, and critical minerals that have rattled global markets.

The meeting should go very well,” Trump wrote on social media, referring to the upcoming negotiations between U.S. officials and their Chinese counterparts.

U.S. Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and Trade Representative Jamieson Greer are scheduled to meet Chinese representatives to continue work on a trade deal that has been stalled since May.

Rare Earths Back on the Table

Trump confirmed to reporters aboard Air Force One that Xi had agreed to resume the flow of rare earth magnets and minerals, which are vital for U.S. industries, including electric vehicle manufacturing and defense systems.

The rare earth breakthrough comes after China reportedly issued temporary export licenses to key U.S. automakers, according to Reuters. Still, the scope of any concessions made by Trump during the call remains unclear.

Fragile Truce After Tensions Flare

Earlier talks in Switzerland had produced a tariff truce, but negotiations later faltered, with both sides accusing the other of backtracking. The U.S. voiced concerns about shortages in critical materials, while China objected to fresh U.S. restrictions on AI chips from Huawei and growing limits on Chinese students studying in America.

In a statement, China’s Foreign Ministry said Trump expressed a willingness to welcome Chinese students back to the U.S.—a gesture aimed at repairing some diplomatic goodwill. Trump later confirmed the sentiment, saying it would be his “honor” to host them.

Mixed Signals for Markets

The Trump-Xi call sparked some optimism on Wall Street, with investors hopeful about reduced tariffs. However, market enthusiasm remained cautious, reflecting uncertainty over key unresolved issues, especially in technology and defense-related sectors.

Observers noted the presence of Commerce Secretary Lutnick in the upcoming talks as a potential sign that Trump may be open to softening restrictions on Chinese access to advanced U.S. technologies—a central point of contention in the trade battle.

As the two economic superpowers prepare to meet in London, the path forward remains complex. Still, the resumption of rare earth exports marks a positive shift in a dispute that has long threatened to reshape global supply chains.

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