Core Insights - Rare earths have become a key bargaining chip in the current US-China trade conflict, with China's export controls on critical raw materials directly influencing the outcome of subsequent negotiations [1] - Despite China holding over 90% of global rare earth refining capacity and the US relying on China for nearly 60% of refined products, global rare earth prices are not dictated by China [1] Group 1 - Rare earths are essential materials that play a significant role in various high-tech industries [1] - The importance of rare earths is underscored by their strategic value in the context of international trade and geopolitical tensions [1]