US legislation banning the use of rare-earth magnets produced in China is creating a major challenge for weapons manufacturers, EV makers, and various other industries.
President Joe Biden s administration, in collaboration with Japan and other allies, aims to counter China s attempts to isolate Asian countries like the Philippines. US Ambassador Rahm Emanuel highlighted the strategy to reverse China s isolation efforts. A critical summit between Biden, Japanese PM Kishida, and Philippine President Marcos Jr. focuses on strengthening cooperation amidst rising tensions in the Indo-Pacific region.
U.S. Treasury Secretary Janet Yellen sent a message of mutual cooperation at a meeting Sunday with Chinese Premier Li Qiang, highlighting the improvement in relations since her visit to China last year while recognizing that major differences remain.