The White House shared details of the trade agreement reached by US President Donald Trump and Chinese President Xi Jinping, which includes measures on rare earth exports and cooperation in the fight against fentanyl.
The White House statement provided details of the trade and economic agreement reached by Trump and Xi, which it described as “a major victory that protects the economic strength and national security of the United States.”
The document said that China will lift restrictions on the export of rare and critical minerals and grant the United States, “consistent with its interests,” an appropriate license to export the rare earth elements gallium, germanium, antimony and graphite.
According to this information, China, which has agreed to cooperate with the United States in the fight against fentanyl, will stop exporting chemicals used to make fentanyl to North America and will strictly control the export of certain other chemicals around the world.
China will also will lift the tariffs imposed on March 4 in response to Washington’s tariffs on various products, including US agricultural products such as wheat, corn, cotton, sorghum and soybeans, and will allow the import of that country’s agricultural products into the Chinese market.
In addition to the tariffs imposed by China on US companies, an agreement was reached to eliminate or suspend other measures against the US. Beijing will continue to import critical semiconductors used in automobiles into the country.
China will extend market tariff exemptions on U.S. imports until Dec. 31, 2026, and will end “various investigations” targeting U.S. companies in the semiconductor supply chain.
In addition to Beijing’s commitments, the agreement will see the U.S. reduce tariffs on imports from China as part of the fight against fentanyl. starting November 10, at 10% of the aggregate rate.
The statement noted that the United States is suspending tariffs on imports from China until November 10, 2026. Section 301 investigations targeting China’s maritime, logistics and shipping sectors will be suspended for one year.