US-China Reach Historic One-Year Rare Earths Agreement as Trump-Xi Summit Exceeds Expectations

Oct 30, 2025 01:34 pm CST

US President Donald Trump and Chinese President Xi Jinping have reached a significant one-year agreement on rare earth materials during their first face-to-face meeting in six years. Trump rated the diplomatic encounter as exceptionally positive, scoring it "12 on a scale of 10," while also announcing a reduction in fentanyl-related tariffs to 10 percent. The agreement addresses a strategic sector dominated by China that is crucial for defense, automotive, and electronics manufacturing, potentially averting another cycle of trade conflicts between the world's largest economies.