FX.co ★ Trump Flags Rare Earths, Fentanyl, and Soybeans as Key China Issues

President Donald Trump has identified rare earth elements, fentanyl, and soybeans as the United States' chief concerns in ongoing trade discussions with China. As both nations gear up to restart negotiations, Trump emphasized the importance of these issues amidst an expiring trade truce. Speaking to reporters aboard Air Force One, Trump stated, "I don't want them to play the rare earth game with us," referencing the possibility of imposing 100% tariffs on Chinese exports following Beijing's announced plans to restrict access to these critical minerals. Additionally, he called on Beijing to halt the production and export of fentanyl, attributing the U.S. opioid crisis in part to China's failure to control these substances and their precursors. Trump further expressed a desire for China to renew its soybean purchases, categorizing these matters as "very, you know, normal things." Meanwhile, Treasury Secretary Scott Bessent revealed that negotiations are scheduled to take place in Malaysia later this week, following what he described as a "constructive" virtual meeting with Chinese Vice Premier He Lifeng on Friday.