China, rare earths
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June, Chinese leader Xi Jinping has got a boost to negotiate better terms in ongoing trade talks with the United States. He has already leveraged the near-monopoly over rare earths to force US President Donald Trump to blink and make concessions.
Apple is investing $500 million in a deal with US rare earths company MP Materials as the iPhone maker faces pressure from President Donald Trump to produce its popular smartphones domestically.
Apple strikes $500 million deal with MP Materials for rare-earth minerals, boosting US supply chain and manufacturing.
China–US trade fell 9.3% year-over-year in the first half of 2025, totaling CNY2.08 trillion (approx. US$290 billion), according to data released by the General Administration of Customs on July 14. Chinese exports to the US dropped 9.
The Trump administration is about to perform its latest reversal in trade negotiations with China, if Nvidia is to be believed. The company says it plans to resume sales of its H20 AI chip to China after securing assurances from Washington that it would approve the shipments.
China's rare earths exports surged 32% in June, indicating progress in agreements to ease export restrictions.
China is home to about 70% of the world's rare earth mining and 90% of refining capacity as a result of years of government support for the industry. Under the agreement, MP Materials will build a new US facility to increase how much of the raw materials from the mine it can turn into useable products.
US President Donald Trump announced that the US had signed a trade agreement with China on June 25, which was also confirmed by China's Ministry of Commerce. From the talks in Geneva on May 11 to negotiations in London on June 10,