US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng are set to meet Sunday to negotiate potential agreements on AI, tariffs, and critical minerals ahead of a high-stakes Washington summit.
President Trump will host Chinese President Xi Jinping for a state dinner and high-stakes summit during UN General Assembly week in New York. US and Chinese officials began preparatory talks on AI, trade, and critical minerals, with tech CEOs including Elon Musk, Sam Altman, and Satya Nadella invited to the state dinner.
Copper prices surged to an all-time high above $14,600 per metric ton on the London Metal Exchange in early September 2026, driven by mounting concerns over tight mine supply, weak output outside the US, and the prospect of potential US tariffs that sent buyers scrambling for the metal.
IQE CEO Jutta Meier identified access to indium phosphide substrates as an emerging key risk for the semiconductor industry, as Chinese export controls create uncertainty over supply of materials critical for advanced chips.
European Commission President Ursula von der Leyen unveiled a €200 million ($232 million) investment package for Greenland during a two-day visit, signaling EU solidarity with the Danish territory as U.S. President Donald Trump continues to push for annexation. The package focuses on critical minerals, satellite communications, and renewable energy.
The United States is working to diversify its critical mineral supply chain away from China, turning to countries like Brazil and Australia while investing in domestic mining operations. Despite some recent increases in Chinese rare earth exports to the US, the Trump administration faces significant workforce shortages in reviving the American mining sector.
President Donald Trump announced $3 billion in U.S. government investments in critical minerals and battery projects during a mining industry roundtable at the State Department, aimed at boosting domestic production, strengthening defense supply chains, and reducing reliance on Chinese minerals. The package includes a $1.4 billion Defense Department loan agreement.
Britain announced a fresh package of sanctions on August 6, 2026, targeting six Russian banks, six shadow fleet tankers, and rare metals importers in an effort to disrupt oil revenues and financial networks funding Russia's war in Ukraine. The measures add 19 new entries to the UK's Russia sanctions list.
The Trump administration will announce a 15% tariff and price floor system on polysilicon and related products as early as Thursday, targeting China's 93.5% control of the critical material used in solar panels and semiconductors. The measures follow a Section 232 national security investigation launched in July 2025.
President Donald Trump signed an executive order Thursday granting federal officials authority to block exports of electronic waste and old batteries containing critical minerals, aiming to boost domestic recycling and reduce dependence on China for materials vital to national security.
The United States and European Union have joined forces in an international agreement called the Pax Silica Accord aimed at breaking Western reliance on Chinese artificial intelligence supply chains by securing supplies of essential components for high-end computer chips that power advanced AI models.
China has significantly reduced shipments of rare earth minerals to Japan, with May exports of materials used in powerful magnets dropping to negligible levels. The supply squeeze is pressuring Japanese companies and Prime Minister Sanae Takaichi's government to seek diplomatic resolution with Beijing over tensions related to Taiwan.
Group of Seven leaders agreed to establish a new critical minerals coordination platform and set a target that no single country should supply more than 60% of their rare earth imports by 2030, directly addressing current reliance on China for these strategic resources.
French President Emmanuel Macron convened a video conference between G7 countries and China to address global economic imbalances, as the G7 summit pivots away from a single overarching statement toward separate policy declarations on topics including critical minerals and cancer research.
Foreign ministers from Australia, India, Japan and the United States agreed to jointly construct a port in Fiji and signed agreements covering critical minerals and energy security, seeking to strengthen cooperation in the Indo-Pacific region.
