The White House on Saturday released details about the trade agreement reached by US President Donald Trump and Chinese President Xi Jinping during their meeting earlier this week.
Among other things, the White House announced that China would suspend export restrictions on rare earth minerals announced in October and resume issuing “general permits valid for the export of rare earths, gallium, germanium, antimony, and graphite for the benefit of U.S. end users and suppliers around the world.”
The Trump administration says this effectively repeals restrictions on rare earth minerals that China imposed in April 2025 and October 2022.
China is the world’s largest producer of rare earth minerals, which are needed to produce a variety of technology products. When the Chinese government announced recent regulations requiring foreign companies to apply for permits to export even small quantities of these minerals, the Trump administration fired back by threatening to impose additional tariffs of 100%.
The White House has now announced that it will suspend these 100% tariff plans and suspend other tariffs on Chinese goods for one year.
