China halted most shipments of rare-earth magnets to the US in April, weaponising the nation’s 90% grip on global production to squeeze American factories. Beijing agreed to normalize flows as part of a trade truce negotiated with the Trump administration, with shipments to the US reaching a six-month high in July.
President Donald Trump said the US has more leverage over China on trade than the other way around, citing airplane parts as a key item Washington has to counter Beijing’s restrictions on rare earths.
“We have much bigger and better cards than they do,” he said Monday. “If I played those cards, that would destroy China. I’m not going to play those cards.”
