U.S. and China Aim for Agreement on Rare Earths and Tariffs to Prevent Trade Conflict

Officials from the United States and China are preparing to conclude a significant

this week, with the goal of easing disputes over rare earth exports, agricultural tariffs, and broader economic disagreements. The negotiations, , are being overseen by Chinese Vice Premier He Lifeng and U.S. Treasury Secretary Scott Bessent, and are taking place ahead of a scheduled meeting between Presidents Donald Trump and Xi Jinping in South Korea. The sessions, set for October 24–27, are intended to address the crisis sparked by China’s recent curbs on rare earth exports and the threat of new U.S. tariffs.

The rare earth dispute has become a central issue in the ongoing trade conflict, with China’s new export limitations prompting Trump to warn of 100% tariffs on Chinese imports starting November 1. These minerals, vital for technology and defense sectors, have served as a strategic asset for Beijing, while the U.S. aims to strengthen its supply chains. During the talks, U.S. Trade Representative Jamieson Greer stressed the importance of achieving "fair trade," while Chinese representatives maintained,

, that there are no restrictions on exports for civilian use.

Disputes over agricultural trade are also a major focus. In September 2025, U.S. soybean shipments to China dropped to zero for the first time since 2018, a result of tariffs and China’s increased purchases from South America. Trump has used the issue as leverage, urging China to restart imports to benefit American farmers. The current negotiations seek to revive a $200 billion annual trade deal from 2020, which China has not fully met, having purchased only 58% of the agreed U.S. goods; the U.S. has launched an

to the agreement.

Early agreement has been reached to prolong the existing 90-day pause on tariffs, which is due to end November 10, and to postpone China’s rare earth export restrictions. Treasury Secretary Bessent described a "highly significant framework"

, indicating that the U.S. would hold off on the 100% tariff measure, with final decisions to be made by Trump and Xi. Chinese negotiator that a preliminary deal had been reached on extending the truce, controlling fentanyl, and export regulations, though specifics have not been made public.

The potential agreement could bring stability to global markets, especially in the agricultural and technology fields. Experts suggest that a soybean agreement could bring billions to U.S. agriculture and help steady food costs. Nonetheless, doubts remain, with analysts such as Wang Wen from Renmin University cautioning that unpredictable U.S. actions undermine trust. "Such tactics weaken the basis for any enduring deal," he remarked.

The negotiations come just before Trump’s APEC summit with Xi, where topics like Taiwan, Hong Kong, and the Russia-Ukraine war may also be discussed. While both parties are expressing hope, the fragile truce depends on concrete results. As a manufacturer from Zhejiang commented, "A healthy China-U.S. partnership is essential for shared prosperity".