China trims US rare-earth magnets shipments ahead of Trump-Xi talks

China’s August exports of rare-earth magnets to the US fell to 512 tonnes, down 13% from a year earlier and 20% from July, underscoring ongoing tensions over critical minerals as Trump and Xi prepare to meet in Washington. Beijing has long used rare earths as leverage in trade talks, and with Western efforts to diversify supply chains progressing slowly, the drop also reflects broader declines in magnets exports to Japan (−17%) and Germany (−22%). Analysts warn supply could again be leveraged in negotiations, though a major shift to non-Chinese supply is likely years away.