The White House released more details about the trade deal reached between US President Donald Trump and Chinese President Xi Jinping on Saturday, according to Yahoo Finance. China intends to suspend the export restrictions on rare earth metals that it announced in October, and will resume issuing “general licenses valid for exports of rare earth metals, gallium, germanium, antimony, and graphite for the benefit of end users in the United States and their suppliers around the world.”
Read also: The United States and China announce a trade agreement that suspends tariffs and export controls
The Trump administration said the move would effectively reverse restrictions on rare earth minerals imposed by China in April 2025 and October 2022. China is the world’s largest producer of these minerals, which are essential for the production of a variety of technical products.
In response to China’s recent restrictions, which would have required foreign companies to apply for a license to export even a small amount of those minerals, the Trump administration threatened to impose additional 100% tariffs. The White House now says it is halting plans for those tariffs by 100% and halting other tariffs on Chinese goods for one year.
Source: Market intelligence platform IndexBox
