Presidents Donald Trump and Xi Jinping are maneuvering for leverage ahead of their upcoming meeting and the expiration of a U.S.-China trade truce, even at the risk of escalating tensions between the world’s two biggest economies.

China this week unveiled sweeping new curbs on its exports of rare earths and other critical materials, echoing moves made in April in response to Trump’s so-called “Liberation Day” tariffs. That came as Beijing continues to eschew purchases of American soybeans , exacerbating an economic squeeze on farming communities that largely voted for Trump in 2024.

In a series of moves announced Friday, China’s Transport Ministry said it will start collecting port fees on ships owned by U.S. companies and individuals, as well as vessels made in America. The l

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