Overview

• Trump said the U.S. would impose 200% tariffs if China fails to supply rare‑earth magnets essential to autos, electronics, and defense.
• He praised Beijing for "intelligently" building a magnet monopoly yet claimed the U.S. holds stronger leverage that he chose not to use.
• He cited airplane parts and Boeing jets as leverage, saying hundreds of Chinese planes were grounded until the U.S. sent needed components.
• China’s magnet shipments rebounded after earlier curbs, with exports to the U.S. jumping 660% in June from May and rising another 76% in July, according to government data cited in reports.
• A June trade framework eased some rare‑earth limits and lowered tariffs to roughly 55% on U.S. side and 32% on China’s, and it is scheduled to expire in mid‑November.