BRUSSELS — As Beijing asserts itself amid global trade tensions, it is playing an ace it has kept up its sleeve for decades: control over the flow of minerals Western countries desperately need to fuel their green, digital and defense ambitions.
When U.S. President Donald Trump last week hailed a draft “framework” with Beijing to end their trade dispute, he singled out China’s export controls on seven rare earth elements — minerals deemed “critical” because they are used in the production of high-tech products such as magnets used in cars.
“Our deal with China is done, subject to final approval with [Chinese] President Xi and me,” Trump wrote in a post on Truth Social. “Full magnets, and any necessary rare earths, will be supplied, up front, by China.”
In return, the U.S. agreed to drop plans to revoke Chinese student visas. But the situation remains tense — and ensuring access to critical minerals such as rare earths features high on the agenda of this week’s G7 summit in Canada.
