Following President Trump’s announcement of tariff reductions and the removal of rare earth export barriers after his meeting with President Xi, I wanted to share a comment from Simon Geale, Executive Vice President at Proxima, a global procurement and supply chain consultancy:
Simon Geale, EVP at Proxima, said:
“The easing of tariffs and rare earth restrictions marks a welcome pause in the economic tug of war between the US and China following the Trump and Xi meeting yesterday. While we’re still awaiting the final deal details, what we’re seeing is a recognition from both sides that high-value supply chains, particularly those underpinned by rare earths, are too globally vital to block long term.
“This agreement may cool tensions in the short term, but it won’t erase the underlying competition for control over materials that power everything from tech and defence to clean energy. Every boardroom with exposure to these sectors will be watching closely, because shifts like this can reset cost bases, reshape sourcing strategies and redefine where power sits in the value chain. These organisations and nations must move from low cost to trusted partner models, with these deals being done at the very top level, to be in the best place to thrive.”
