Recently, following the conclusion of the economic talks in Geneva, the US and China reached an initial agreement concerning the trade of rare earths and key materials, signaling further easing of tensions between the two countries. Chinese Vice Minister of Commerce Li Chenggang stated that the two sides engaged in in-depth professional exchanges, discussing crucial measures based on the consensus reached during the June 5 call between the leaders of both countries.

US Commerce Secretary Howard Lutnick expressed optimism about addressing rare earth issues under the new framework of measures. He emphasized that past American measures concerning China's rare earth export controls aim to balance future mutual export controls.

President Trump announced via social media that China has committed to exporting rare earth materials to the US while allowing Chinese students to continue their studies in American schools. Despite the positive market reaction, experts caution that this meeting only temporarily de-escalated trade tensions, and the actual situation remains complex.

Currently, China is nearly monopolizing the global rare earth market, significantly affecting global electronics and automobile industries. It remains to be seen whether this breakthrough will improve the European market situation.