U.S. trade representative blames China's rare earth controls for uncertainty over trade truce extension

U.S. Trade Representative Jamieson Greer said China is holding back rare earth exports, creating what he called "uncertainty" over extending the 2025 Busan trade agreement ahead of Xi Jinping's state visit to Washington.

"They have limited rare earth exports. They've controlled them," Greer told Bloomberg News. He said the two presidents have a good relationship but that the U.S. needs extensions or other incremental steps "to make sure that there's compliance."

The two sides report progress on a narrow tariff-reduced trade mechanism, but the broader pact remains unresolved. Manufacturers are struggling with constrained supplies as officials negotiate over the export restrictions, according to the New York Times.