Xi May Have Miscalculated on Rare Earths

Xi May Have Miscalculated on Rare Earths

China’s complex new rules take on the entire world at once—and give Trump an opportunity.

Chinese President Xi Jinping at the beginning of a bilateral meeting with the President of Congo in the Great Hall of People in Beijing, China, on Sept. 4. October 24, 2025, 1:15 AM Comment icon View Comments ( )

The current trade confrontation between the United States and China may look like a repeat of the episode from earlier this year: Washington has rolled out sky-high tariffs, while China has clamped down on the supply of rare earths. Many observers, reportedly including Chinese President Xi Jinping, expect the outcome will be the same, too: markets slide, American manufacturers warn of shuttered factories, and U.S. President Donald Trump