U.S. Presses China on Rare Earths and Agriculture Ahead of Trump-Xi Summit

U.S. officials said they urged China to fulfill its commitments on rare earth exports and purchases of U.S. agricultural products during a call between Treasury Secretary Scott Bessent, U.S. Trade Representative Jamieson Greer, and Chinese Vice Premier He Lifeng ahead of a planned September meeting between President Donald Trump and Chinese President Xi Jinping.

• Bessent said the U.S. expects Beijing to fully honor its commitments on rare earths and U.S. agricultural products.
• The officials also discussed implementing Trade and Investment Boards to advance bilateral economic cooperation.
• China previously agreed to address U.S. concerns over rare earth and critical mineral supply following the leaders' meeting in Beijing in May.
• The White House has said China also committed to purchase at least $17 billion of U.S. agricultural products through 2028.
• Chinese state media described the discussions as candid, in-depth and constructive.

Relevant Companies

• MP Materials ($MP) – U.S. rare earth producer directly exposed to developments in the global rare earth supply chain.
• The Mosaic Company ($MOS) – Agricultural supplier that could benefit from increased Chinese purchases of U.S. agricultural products.
• Archer-Daniels-Midland ($ADM) – Major U.S. agricultural exporter that could benefit from expanded Chinese import commitments.

Editor’s Note: This is a developing story. This article may be updated as more details become available.