The US and china have wrapped up talks in London, agreeing to get their trade truce back on track. It is now down to Donald trump and China's president Xi jinping to sign off on the details. At the heart of negotiations is Beijing's export controls on rare earth magnets, which have been causing supply chain disruptions across the globe, threatening production of cars, wind turbines and even fighter jets. China's stranglehold is clearly worrying Donald Trump, with the US president ordering an investigation into supply chain vulnerabilities, citing security and economic concerns. After the trade talks in London, US Secretary of Commerce Howard Lutnick said America expected the "topic of rare earth minerals and magnets... will be resolved". Tariffs and trade wars, will be front and centre at the G7 meeting in Canada. Australia's leaders are being urged to use that opportunity to promote the nation's burgeoning critical minerals industry as an alternative to China. The federal Government says its pouring $4 billion into critical minerals as well tax incentives. It comes as the World Bank downgrades global economic growth to 2.3% in 2025, which is the weakest growth outside of a recession since 2008, when the world was hit by the Global Financial Crisis.
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