Can't see any movement on rare earth unless a commensurate roll back of 50% rule, which placed something like an additional 10,000 Chinese companies on the entity list. It's a quite simple equation for Beijing - if US wants decoupling, then decoupling it is.

Soybean Beijing might buy, you can stockpile this or make it into products which can also be stockpiled. As for fentanyl, China does not export fentanyl so unclear what measures could be taken which would satisfy unreasoned demands, might just have to make something up here.