Trump Snubs Xi Amid China’s Rare Earth Power Play – Jack Lifton’s Analysis

InvestorNews

11 Oct 2025

Today, we have Jack Lifton, Co-Chair of the Critical Minerals Institute (CMI) and widely regarded as the world’s #1 expert on critical minerals, to discuss a startling development in the U.S.–China trade standoff. President Donald Trump has abruptly decided not to attend an upcoming meeting with China’s President Xi Jinping in South Korea. Lifton believes the cancellation is rooted in optics and strategic calculation — Trump is avoiding a scenario that could portray the U.S. as being on the back foot. In the rare earth elements showdown that underpins this trade war, China still holds all the cards.

Beijing has moved decisively to strengthen its leverage ahead of any high-level talks. In early October, China announced new export controls on rare earth elements, dramatically expanding an existing tech export ban. Five additional rare earth metals were added to China’s export restriction list – holmium, erbium, thulium, europium, and ytterbium – bringing the total controlled rare elements to 12 out of the 17 rare earths. These materials (along with related processing technology and equipment) can no longer be freely exported from China without special licenses. The timing is no coincidence: the rules were unveiled just weeks before a planned Trump–Xi summit, signaling a strategic move by Beijing to gain bargaining power.