Fragile trade truce buys US time to reduce China reliance, says former US diplomat

• The 'fragile truce' from the Trump-Xi summit is seen as buying time for the US to reduce dependencies on China.
• The US is making some progress in diversifying rare earth sourcing and rebuilding domestic processing capabilities, often through public-private partnerships.
• China currently controls about 70% of rare earth mining and 90% of processing, while the US has largely shuttered its processing facilities.
• Achieving independence in rare earth processing is viewed as a multi-year project, not a short-term fix.

The discussion centers on the US's strategic efforts to reduce its reliance on China for rare earths and critical minerals, a key outcome of the Trump-Xi summit. While some preliminary progress is noted in diversifying sourcing and rebuilding domestic processing capabilities, the speaker emphasizes that this is a multi-year project with a very long way to go, highlighting China's current dominance in processing.