Overview

• At a White House news conference with South Korea’s president, Donald Trump said China must speed magnet shipments or face roughly 200% duties.
• U.S. and Chinese negotiators are operating under a rolling arrangement that reduced U.S. tariffs to about 30% and China’s to about 10%, now extended through November.
• U.S. officials accuse Beijing of delaying export-license approvals for rare earths, limiting access to magnets used in autos, electronics and defense.
• China remains the dominant producer and introduced export licensing for rare-earth materials in April, intensifying the trade confrontation.
• The U.S. proposed adding copper and potash to its 2025 critical-minerals list, with a USGS draft open for 30 days to support efforts to lessen import dependence.