原文标题：
Rare earth miners fall after US-China truce to pause tariffs, export curbs
原文连结：
https://www.aol.com/articles/rare-earth-miners-fall-us-103950377.html
发布时间：Mon, October 27, 2025 at 6:39 PM GMT+8
记者署名：(Reporting by Katha Kalia in Bengaluru; Editing by Sriraj Kalluvila)
原文内容：
(Reuters) — Shares of U.S.-listed rare earth miners fell as much as 8% before
the bell on Monday after Washington and Beijing reached a framework for a
trade deal that could pause planned U.S. tariffs and Chinese export controls
on critical minerals, easing fears of supply disruptions that had boosted the
sector this year.
（路透社）—— 周一盘前交易中，美国挂牌的稀土矿业公司股价一度下跌达 8%，因为华
盛顿与北京达成一项贸易协议框架，可能暂停原定的美方关税与中方对关键矿物的出口管
制。这项进展缓解了市场对供应链中断的担忧，而该担忧曾推高该产业股价。
The rare earths truce marks a pause in one of the most strategic fronts of U.S
.-China trade tensions.
这项“稀土休战”象征美中贸易紧张中最具战略意义的战线之一暂时停止。
China processes more than 90% of the world's rare earths and magnets and
recently expanded export curbs, including new elements to its control list and
tightened oversight of foreign producers that rely on Chinese materials.
中国负责全球超过 90% 的稀土与磁材加工，并且近期扩大出口限制，新增受控矿物种类
，且加强对依赖中国原料的外国企业的监督。
The U.S., by contrast, has one operational rare earth mine and is racing to
secure minerals vital for electric vehicles, defense systems and advanced
manufacturing.
相较之下，美国仅有一座稀土矿场仍在运作，正加紧脚步确保取得对电动车、国防系统及
先进制造至关重要的矿物供应。
U.S. President Donald Trump had proposed 100% tariffs on Chinese imports,
which were due to take effect on November 1 after the latest restrictions.
美国总统唐纳德·川普曾提议对中国进口商品征收 100% 关税，原定于 11 月 1 日、在
中方最新出口限制生效后同步实施。
The preliminary deal is expected to be reviewed by Trump and Chinese President
Xi Jinping later this week at the Asia-Pacific Economic Cooperation (APEC)
summit in Gyeongju, South Korea.
这项初步协议预计将在本周稍晚于韩国庆州举行的亚太经合会（APEC）峰会上，由川普与
中国国家主席习近平共同审议。
With supply risks receding, investors unwound some bets that U.S. miners would
gain from an extended trade standoff.
随着供应风险消退，投资人解除部分此前押注“美国矿商将因持续贸易对峙而受益”的投
机部位。
Shares of Critical Metals slumped nearly 8%, Ramaco Resources fell 5.7%, and
NioCorp Developments dropped 5.4%.
Critical Metals 股价暴跌近 8%，Ramaco Resources 下跌 5.7%，NioCorp
Developments 下滑 5.4%。
MP Materials, USA Rare Earth and Trilogy Metals each fell more than 6.5%.
MP Materials、USA Rare Earth 与 Trilogy Metals 各自下跌超过 6.5%。
Several U.S. rare earth miners such as MP Materials, Critical Metals, Lithium
Americas and USA Rare Earth also gained as the Trump administration picked up
stakes and signed supply-chain deals to cut dependence on China.
同时，美国多家稀土企业（如 MP Materials、Critical Metals、Lithium Americas 与
USA Rare Earth）也先前因川普政府入股并签署供应链协议、以减少对中国依赖而受益。
心得/评论：
中方：
将“稀土”作为谈判筹码，一旦美方再度施压，仍可恢复出口限制。
借机展示“中国愿合作但有底线”的形象，在国际上重塑稳定供应者地位。
美方战略：
虽暂时停火，但仍加速国内开采、回收技术与供应链多元化。
川普政府可能将协议当作“谈判成果”展示，
同时暗中推进矿业自给与盟国合作（特别是澳洲、加拿大）。