US, China Suspend Rare Earth Export Curbs Amid Trade Thaw

The United States and China have agreed to a one-year suspension of several restrictive trade measures, including U.S. export controls on numerous Chinese technology companies and China's export restrictions on rare earth minerals. This agreement was reached during a summit between President Donald Trump and Chinese leader Xi Jinping, marking a significant easing of trade tensions. Rare earth minerals, critical to various high-tech and defense industries, had been a major point of contention, with China previously tightening export controls and the U.S. imposing tariffs and restrictions. Both sides have also agreed to suspend related tariffs and port fees, and the U.S. will pause its Section 301 investigation into China's shipbuilding industry for the duration of this truce. The pause provides time for global economies to develop strategies to reduce dependence on China’s dominance in rare earths, while the agreement is subject to annual review based on progress in broader trade negotiations. This development signals a temporary truce and a potential pathway toward stabilizing economic relations between the two nations.