U.S. President Donald Trump announced that he had reached an agreement with Chinese leader Xi Jinping on a temporary suspension of export restrictions on rare earth metals. According to the Financial Times, this became a key part of the new one-year trade deal agreed upon during the summit in South Korea.
Source: Pryamyi
“It was an incredible meeting — a 12 out of 10,” Trump said, adding that the two sides had reached “a set of important decisions,” with the signing of the agreement expected soon.
One of the main outcomes of the talks was the resolution of the “rare earth metals dispute,” which had escalated after China imposed new export restrictions. Trump also announced a reduction of tariffs on Chinese goods from 20% to 10%, emphasizing that Beijing had agreed to strengthen control over the export of fentanyl precursors.
The leaders also discussed prospects for cooperation in the semiconductor sector. Nvidia plans to begin consultations on exporting chips to China, although the most advanced technologies remain outside the current agreement.
Trump further confirmed his intention to visit China in April 2026, while Xi Jinping, in turn, is preparing to make a visit to Washington. Beijing stated that trade cooperation should become a “ballast” in bilateral relations, promoting stability instead of confrontation.
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