More details about a trade deal reached between U.S. President Donald Trump and Chinese President Xi Jinping were released by the White House on Saturday, according to Yahoo Finance. China will suspend the restrictions on exporting rare earth minerals that it announced in October and will resume issuing “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.”

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The Trump administration stated that this move will effectively reverse restrictions on rare earth minerals that China had imposed in April 2025 and October 2022. China is the world’s largest producer of these minerals, which are necessary for the production of a variety of tech products.

In response to China’s most 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 had threatened an additional 100% in tariffs. The White House now says it is halting plans for those 100% tariffs and pausing other tariffs on Chinese goods for one year.

Source: IndexBox Market Intelligence Platform