China Rare-Earth Magnet Exports to US Fall 21% in August Ahead of Xi-Trump Meeting

China's exports of rare-earth magnets to the United States fell 21% in August to 512 tons from the prior month, according to Chinese customs data released Sunday, ahead of a Thursday meeting in Washington between President Donald Trump and Chinese leader Xi Jinping expected to cover critical minerals. The industrial components, used in automobiles, consumer goods and weaponry, have become Beijing's primary leverage in trade negotiations with Washington. Beijing imposed export controls in April 2025, later eased, and is considering offering more export licenses as a bargaining chip, people familiar with the matter said. August shipments remain below the 2024 monthly average of 621 tons. The talks precede the November expiration of a US-China trade truce that includes Chinese commitments to maintain critical mineral flows through more generous export licensing.