On Saturday, the White House released more details about a trade deal reached between US President Donald Trump and Chinese President Xi Jinping in a meeting earlier this week.
A key part of the agreement is that China will suspend the restrictions on exporting rare earth minerals that it announced in October. China will resume issuing general licenses for exports of rare earths, gallium, germanium, antimony, and graphite for the benefit of US end users and their suppliers worldwide.
According to the Trump administration, this move will effectively reverse restrictions on rare earth minerals that China had previously imposed in April 2025 and October 2022.
China is the world’s largest producer of rare earth minerals, which are essential for manufacturing a wide range of technology products. When China announced its most recent restrictions, which would have required foreign companies to apply for a license to export even small amounts of these minerals, the Trump administration responded by threatening an additional one hundred percent in tariffs.
The White House now says it is halting plans for those one hundred percent tariffs and is also pausing other tariffs on Chinese goods for one year.