Race Against Time: U.S.-China Trade Talks Aim for Rare Earth Breakthrough

Top U.S. and Chinese officials meet in London to resolve export controls on rare earths and other goods crucial for sectors like autos and aerospace. White House economic adviser Kevin Hassett hinted at potential concessions. The talks are pivotal amid fluctuating U.S.-China economic ties and global market impacts.

Top officials from the U.S. and China resumed critical trade talks in London on Tuesday, focusing on export controls for rare earths and other essential goods. The discussions, which follow a recent preliminary deal, are seen as vital for averting another rupture between the two superpowers.

U.S. economic adviser Kevin Hassett indicated possible concessions, including lifting some semiconductor export controls, if China accelerates rare earth deliveries. Amidst erratic trade policies from President Trump, the talks come at a crucial time for both economies, as noted by the significant drop in China's exports to the U.S.

The discussions in London, led by high-ranking officials from both nations, reveal the centrality of rare earths in current economic tensions. With China holding a near-monopoly on these materials, any disruption could have far-reaching global supply chain implications.

(With inputs from agencies.)