US and China seek to strike a deal over rare earths, tariffs, soybeans
October 27, 2025
The United States and China are not going to resolve all the issues that divide them before presidents Donald Trump and Xi Jinping meet Thursday in Busan, South Korea. But they are likely to make enough progress on American export controls, China’s stranglehold on strategic minerals and other nettlesome problems to calm financial markets and prevent their rivalry from doing much more economic damage for now. “They’re trying to get to some kind of détente,” said Jeff Moon, a former U.S. trade official and diplomat who now runs the China Moon Strategies consultancy. “There’s no pretense that they’re going to reach a grand bargain that solves everything in the relationship.’’