Trump Claims Big Win on Rare Earths - Is It So?

The U.S. President Donald Trump sat down with China's Xi Jinping yesterday. Trump walked out beaming, calling it a total victory on rare earth minerals—those hidden gems powering everything from phones to fighter jets. But dig a little deeper, and you see Xi playing it cool.

The meeting happened on October 30, 2025, at Gimhae Air Base in Busan, South Korea, right on the sidelines of the Asia-Pacific Economic Cooperation summit. It was their first face-to-face since Trump returned to the White House in January. Tensions had been sky-high after China slapped new export limits on rare earths earlier this month, sparking fears of shortages that could hit U.S. tech firms and defense contractors hard. Trump pushed hard for relief, and by the end, they inked a one-year pause on those curbs.

China also promised to ramp up buys of American soybeans and other farm goods, while the U.S. agreed to trim tariffs on Chinese imports from 57% down to 47%. Trump even floated a trip to Beijing in April, with Xi eyeing a return visit later.

Why does this matter to everyday folks? Rare earths are the backbone of electric cars, wind turbines, and medical devices we all rely on. Without steady supply, prices spike, jobs vanish, and innovation stalls. Xi's team called the outcomes "hard-won," hinting at the give-and-take. Trump got his headlines, nevertheless, Beijing preserved leverage for future negotiations —the deal renews yearly, leaving room for twists.

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