U.S. and China Reach Preliminary Trade Agreement on Key Issues

China is carefully balancing its leverage in US trade negotiations by resuming exports of rare earths and magnets, crucial for many industries, while avoiding overplaying its hand to prevent long-term dependence on China. Recent licenses issued by China suggest a potential easing of export restrictions, but detailed supply agreements and licensing processes remain complex, highlighting the ongoing strategic and economic tensions in the global rare earth market.