Tensions Rise as U.S. and China Clash Over Rare Earth Exports

U.S. Trade Representative Jamieson Greer and Treasury Secretary Scott Bessent are set to meet Chinese officials in Malaysia to discuss China's restrictive measures on rare earth exports, which impact high-tech industries. This comes amid possible talks between President Trump and President Xi Jinping.

U.S. Trade Representative Jamieson Greer announced plans to travel to Malaysia with Treasury Secretary Scott Bessent for discussions with Chinese officials. The talks are prompted by China's "incredibly aggressive" measures restricting rare earth mineral exports, crucial for high technology.

Treasury Secretary Bessent, speaking on CNBC's "Squawk Box," noted that a potential meeting between U.S. President Donald Trump and Chinese President Xi Jinping remains tentatively scheduled, although final confirmation is yet to be reached.

Greer accused China of violating prior commitments to maintain a steady supply of rare earths. Nonetheless, he expressed optimism about finding a "good landing zone" for balanced trade relations between the two nations.

(With inputs from agencies.)