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Why China's mineral monopoly has emerged as key obstacle in US tariff talks: 'They hold virtually all of the cards'

China's restrictions on rare earth element exports, crucial for tech and military applications, have sparked a trade dispute with the US. President Trump accuses China of violating a trade agreement by limiting shipments of these essential minerals. Treasury Secretary Scott Bessent acknowledged the issue, suggesting it could be a deliberate move by China. Experts warn of the potential for supply chain disruptions and advocate for increased domestic mining and diversification of sources to reduce US reliance on China. The US is exploring options including resource deals with Greenland and Ukraine, but these are long-term solutions. Congress is considering legislation to address the crisis.

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