President Donald Trump recently shared details about a phone call with Chinese President Xi Jinping, describing it as a "very good" conversation focused on trade negotiations between the two nations. The call took place on Thursday and lasted about an hour and a half. Trump mentioned that Xi agreed to restart shipments of rare earth minerals to the United States, which had been halted since April.
During a press briefing on Air Force One, Trump confirmed that Xi had committed to sending these critical materials again. This is significant because rare earth minerals are essential for various industries, including automotive, robotics, and defense. The halt in shipments had raised concerns about the impact on U.S. manufacturing and national security.
The conversation comes after China had imposed restrictions on the export of these minerals, which account for a large portion of the global supply. Companies were required to obtain special licenses to export these materials, which could take up to 45 days to process. This situation had complicated Trump’s trade strategy, as China plays a crucial role in supplying these resources.
Trump’s remarks indicate progress in the ongoing trade discussions, which have been marked by tension and disagreements. Just days before the call, he criticized China for not adhering to a previous trade agreement made in May. Despite the challenges, Trump expressed optimism about the direction of the negotiations, stating that they are "very far advanced" on the trade deal.
The U.S. has been working to secure its supply chains, especially in light of China’s dominant position in the rare earth market, producing about 60% of the world’s supply. The president’s announcement of Xi’s agreement to resume shipments may help alleviate some of the pressure on U.S. industries reliant on these materials.
Overall, this development reflects the ongoing complexities of U.S.-China relations, particularly in the context of trade and economic cooperation. As both countries continue to navigate their differences, the outcome of these negotiations will be crucial for the global economy.