Data from the General Administration of Customs of China shows that China's exports of rare earth magnets to the U.S. in August fell 21% from July to 512 tons. Ahead of a meeting between Trump and Xi, outside analysts suggest the Chinese side may use the expansion of rare earth exports as a negotiating chip. In addition, U.S. Treasury Secretary Bessent and Chinese Vice Premier He Lifeng held a meeting on trade and artificial intelligence issues, and both sides agreed to further consultations.
On September 20, 2026, US Treasury Secretary Bessent and US Trade Representative Greer held talks with Chinese Vice Premier He Lifeng at JPMorgan Chase headquarters in New York. The two sides discussed issues including trade, artificial intelligence safety, and rare earth supplies, preparing for the Trump-Xi summit to be held next week.
It was reported on September 15 that Beijing planned to seek an extension of the US-China trade truce until the end of Trump's term ahead of the Trump-Xi meeting on September 24. However, due to China's failure to fully fulfill its rare earth export commitments, the US side was only willing to renew it for 6 months and demanded that China ease its rare earth restrictions on Japan.
2025年10月9日，中国商务部宣布迄今最严格的稀土出口管制措施，特朗普随即宣布对华再加征100%关税；11月初双方达成休战后，中方暂停该项管制。