"Top U.S. and Chinese officials met in Malaysia on Saturday to lay the groundwork for a summit between Donald Trump and Xi Jinping, with some on Wall Street saying Beijing overplayed its hand by imposing draconian restrictions on rare earth exports. Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng held negotiations that the U.S. characterized as constructive. But sources told the Financial Times China was reluctant to ease the export controls."
""As China's leader Xi Jinping stands firm on implementing sweeping export controls on rare-earths and other critical minerals, signs are mounting that Asia's biggest economy has gone too far this time," Yardeni Research said in a note on Tuesday. For example, officials in Europe and Japan joined the U.S. in denouncing China's export controls, which could curb the supply materials that are critical to a wide range of industries."
Top U.S. and Chinese officials met in Malaysia to prepare for a potential summit between Donald Trump and Xi Jinping, focusing on China’s rare-earth export controls. Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng held negotiations that the U.S. called constructive, while sources said China remained reluctant to ease restrictions. If China refuses to roll back controls, U.S. tariffs on China could jump to 157%, and other countries may increasingly align with Washington. European and Japanese officials have joined U.S. criticism, and the G7 pledged a united response. China has countered by limiting chip and software exports and redirecting trade to other partners.
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