The White House announced that China will effectively suspend implementation of additional export controls on rare earth metals and terminate investigations targeting U.S. companies in the semiconductor supply chain. Bloomberg reported the details from a White House fact sheet issued on Saturday, outlining the trade pact agreed to earlier this week by President of the United States Donald Trump and Chinese leader Xi Jinping.

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Under the deal, China will issue general licenses valid for exports of rare earths, gallium, germanium, antimony, and graphite “for the benefit of U.S. end users and their suppliers around the world,” which the White House said means the effective removal of controls China imposed in April 2025 and October 2022. The U.S. and China previously said Beijing would suspend more restrictive controls announced in October 2025 for one year.

Washington will also pause some of the President’s so-called reciprocal tariffs on China for an additional year and is halting plans to implement a 100% tariff on Chinese exports to the U.S. that was threatened for November. The White House also said that the U.S. will further extend the expiration of certain Section 301 tariff exclusions, currently due to expire on Nov. 29, 2025, until Nov. 10, 2026.

The Chinese Embassy in Washington did not immediately respond to a request for comment on Saturday.

The summit between the President and Xi, their first face-to-face meeting of the U.S. president’s second term, saw the leaders stabilize relations in the short term after an escalating trade fight. Under their agreement, China agreed to pause sweeping controls on rare-earth magnets in exchange for a U.S. agreement to roll back an expansion of curbs on Chinese companies.

The U.S. also agreed to halve a fentanyl-related tariff to 10% from 20%, while Beijing will resume purchases of American soybeans and other agricultural products. The U.S. has said China will buy 12 million metric tons of soybeans during the current season, and a minimum of 25 million metric tons a year for the next three years. The President on Friday indicated he would like to remove all of the fentanyl-related tariffs if China continued to crack down on exports of the drug and precursor chemicals used to make it.

Source: IndexBox Market Intelligence Platform