Details of a trade deal between U.S. President Donald Trump and Chinese President Xi Jinping were released by the White House on Saturday. The agreement includes China suspending restrictions on exporting rare earth minerals announced in October, and issuing general licenses for the benefit of U.S. end users and suppliers worldwide.
The Trump administration stated that these actions will effectively reverse restrictions imposed by China in April 2025 and October 2022 on rare earth minerals. China, as the largest producer of these minerals globally, plays a critical role in the tech industry where these minerals are essential for production.
Following China’s recent restrictions that would have required foreign companies to obtain licenses for any amount of mineral exports, the Trump administration threatened additional tariffs. However, with the new agreement, plans for 100% tariffs have been halted, and other tariffs on Chinese goods are paused for one year.
