For the third time in as many months, US and Chinese officials will meet in Europe for trade talks — and this time, Beijing is arriving at the negotiating table more emboldened than ever.

At the heart of the haggling between the world’s largest economies is Beijing’s stranglehold on rare-earth magnets used to make everything from electric vehicles to high-tech weapons, and Washington’s curbs on cutting-edge chips essential to artificial intelligence (AI).

Economic leaders from the US and China meet in Stockholm to discuss a 90-day truce in trade talks to avoid tariff increases and global supply chain disruptions.