Big Take The US and China’s High-Stakes Diplomacy
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Jun 10, 2025 Brendan Murray, Bloomberg's trade editor, and John Liu, a reporter from Beijing, discuss the high-stakes U.S.-China trade negotiations in London. They dive into the complexities of the talks over rare-earth minerals and semiconductor chips, highlighting the diplomatic tightrope both countries are walking. With tensions rising, the conversation explores China's quest for economic power and the implications of these negotiations on global trade dynamics. Their insights shed light on the challenges of achieving a deal amidst competing interests and national strategies.
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China's Rare Earth Leverage
- China controls most of the world's rare earth minerals and their export affects global supply chains.
- This gives China significant leverage in trade negotiations with the U.S. and others.
Security vs Trade Complexity
- Both the U.S. and China see their trade restrictions as matters of national security.
- This blurs the line between economic and national security, complicating trade negotiations.
Balancing Trade and Dependency
- Both countries want to trade but limit dependency on each other.
- They aim to diversify trading partners to reduce economic vulnerabilities.