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President Donald Trump, left, meets with Xi Jinping, China’s top leader, in Busan, South Korea, on Thursday, Oct. 30, 2025. The two leaders reached an agreement on fentanyl, some tariffs and rare earths, at least for a year. But even as the global trade picture cleared a little, Trump spurred new worries about nuclear proliferation. (Haiyun Jiang/The New York Times)China had us over a barrel, for the U.S. depends on Chinese rare earths far more than China depends on our soybeans.
Originally published at Nicholas D. Kristof