China's rare earths dominance to overshadow Trump's talks with Xi

The U.S. will still depend on China for rare earths well into the 2030s even as it expands domestic mining and processing, creating a leverage problem for President Donald Trump ahead of his Thursday meeting with Xi Jinping. Rare earths—among about 60 minerals Washington deems critical—must be processed before they can be used to make magnets and materials for weapons, vehicles, computers and other goods. U.S. output of the two most-used rare earths has more than tripled since Trump returned to office, but the U.S. can meet only 42% of demand and will still import nearly a quarter within five years. China last year delayed export restrictions until Nov. 10, and an extension is on the agenda.