China's outbound shipments of rare earths in May jumped 23% on the month to their highest in a year, though Beijing's export curbs on some of the critical minerals halted some overseas sales, with shortages rippling through global manufacturing.

China has agreed to fast-track approvals for the shipment of rare earth minerals to the United States and some European Union nations.

On the latest WSJ’s Take On the Week, we look at why rare-earth magnets are at the center of U.S. trade talks with China. We also take a look at inflation ahead of this week’s consumer-price index report,