China views its rare earths as a national security issue, not a trade one, and that’s why Beijing is unlikely to loosen controls any time soon, experts say.

President Donald Trump and Chinese President Xi Jinping discussed trade negotiations between Washington and Beijing Thursday over the phone.

Mr. Trump said in a post on Truth Social that his call with Xi Jinping, China’s top leader, had focused entirely on the trade relationship between the nations, which has soured in recent months in a dispute over the export of critical minerals used in an array of industries.