Rare‑Earth Dispute Threatens Extension of 2025 Busan Trade Pact Ahead of Xi‑Trump Summit

Just hours before Chinese President Xi Jinping’s state visit to Washington, the United States and China are still negotiating whether to extend the 2025 Busan trade agreement. U. S. Trade Representative Jamieson Greer said Beijing’s refusal to supply enough strategic mineral exports creates uncertainty that could stall the pact’s renewal. Meanwhile, the two sides report progress on a narrow tariff‑reduced trade mechanism that would allow limited exchanges of goods. The disagreement over rare‑earth supplies has become the main sticking point, raising doubts that the trade truce will survive the summit. If the extension fails, the U. S. could face higher tariffs on Chinese imports and a slowdown in the supply of critical minerals for American industry.