The meeting between US President Donald Trump and Chinese President Xi Jinping on 24 September 2026 sends cautiously positive signals for international rare earth supply chains. Both leaders emphasised the importance of stable economic cooperation and welcomed the outcomes of the recent trade talks between the two countries' economic and trade teams. China's Ministry of Commerce has since confirmed that both countries will extend the existing trade agreement until 10 January 2027.
As a result, the additional restrictions on rare earths and magnets that would have taken effect in November remain suspended for the time being. At two months, however, the extension is considerably shorter than the six months widely expected. Formal implementation through an official government notice is still pending.
The existing export regulations and licensing requirements for certain magnet materials and rare earths remain unchanged. Early planning therefore remains important. Thanks to significant advances in magnet development and manufacturing processes, many magnet grades can now be offered without the use of heavy rare earth elements (HREs). This creates new opportunities to reduce dependence on critical raw materials and to improve supply security in the long term.
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