An accelerating trade war between the U.S. and China that’s ensnared critical minerals and related supply chains — from electric vehicles to renewable energy components — could ease in the coming months, a panel of experts said Tuesday.
China moved to restrict exports of rare earth elements and other minerals after President Donald Trump imposed sweeping tariffs on imports, with particularly high numbers for China, a move that triggered global economic turmoil and fears of recession.
While Trump has clawed back tariffs on other countries and moved to exempt electronics like smartphones and laptops, the trade spat with China has — and will continue — to escalate, said Scott Kennedy, a senior scholar on Chinese business and politics at the Center for Strategic and International Studies.
But Beijing and Washington will also face increasing pressure to engage in negotiations as they feel financial pain, Kennedy added.
