Washington: As the US-China trade truce nears expiration, President Donald Trump on Sunday highlighted rare earths, fentanyl, and soybean purchases as the United States’ primary concerns ahead of renewed negotiations between the two countries.
Rare earths and trade leverage
Speaking on Air Force One, Trump said, “I don’t want them to play the rare earth game with us,” referring to China’s proposed controls over critical minerals. Earlier, he threatened a 100% tariff on Chinese shipments if Beijing imposed broad restrictions on these minerals, which are crucial for industries ranging from smartphones to fighter jets.
Fentanyl and opioid crisis
Trump also pressed China to curb exports of fentanyl and its precursor chemicals, blaming Beijing for contributing to the American opioid crisis. The US leader reiterated that this remains a key area where progress could be made during upcoming talks.
Soybean purchases and farmers’ concerns
Another major issue raised by Trump was the resumption of soybean imports from China, which have fallen to zero this year. US farmers, frustrated by unsold stock and declining prices, have been waiting for government aid, currently delayed due to the ongoing US federal shutdown. Trump expressed concern that China’s shift to South American suppliers has hurt American agriculture.
Upcoming talks and trade truce
Treasury Secretary Scott Bessent confirmed that US-China talks will take place later this week in Malaysia, following virtual discussions with China’s Vice Premier He Lifeng. The current trade truce is set to expire on November 10 unless extended. Analysts note that Trump is emphasising tangible issues to achieve demonstrable victories for domestic audiences, rather than negotiating China’s broader industrial model.
China’s response
In Beijing, Chinese Foreign Ministry spokesman Guo Jiakun said that a trade war does not serve either party, and urged the US to negotiate on the basis of equality, respect, and mutual benefit. Meanwhile, China has attempted to reassure global markets that tightened controls on rare earths will not disrupt normal trade flows.
Context and implications
The US-China trade relationship has been strained recently by expanded technology sanctions, proposed port levies, and export controls, prompting both nations to adopt defensive economic measures. The upcoming talks will be closely watched for progress on critical commodities, fentanyl control, and agricultural trade, which remain politically and economically sensitive issues.