The U.S. and China have a framework to resolve their trade disputes

China’s export controls for refined rare earths are “driven by its domestic industrial sustainable development needs”, the country’s state-run Xinhua news agency said. This comes as US President Donald Trump held talks with his Chinese counterpart Xi Jinping to discuss a second round of tariffs between the two countries. Earlier, the US had raised its tariffs on rare earths from 10% to 30%.