US-China Trade Relations - US Treasury Secretary will meet with the Chinese Vice Premier, and President Trump may meet with Chinese President Xi Jinping in South Korea [1] - The meeting aims to de-escalate tensions between the US and China [1] - Beneath the surface, US-China relations are incredibly uncertain due to thorny issues that need negotiation [1] Rare Earth Metals and Trade Restrictions - China accounts for 90% of the world's rare earth metals processing and nearly two-thirds of the world's mining of those materials [1] - China has new restrictions on rare earth metals, potentially impacting global supply chains [1] - The US Commerce Department has unveiled new export controls targeting potentially tens of thousands of Chinese firms [1] - China will deny imports of its materials if they're for defense use of other countries [1] Impact of Restrictions - The rare earth materials controls are going to disrupt the global auto supply chains, especially electric vehicles [1] - New controls on lithium batteries, which are part of the core of any electric vehicle, have been announced [1] - China is also targeting new AI applications with these controls [1]