China temporarily reopens export of rare earth elements to the US amid diplomatic agreements
Following extensive negotiations between the leaders of the world’s two major economies — China and the United States — the Chinese government officially announced a temporary easing of restrictions on the export of rare earth elements to the US.
This decision is the result of agreements reached during high-level meetings amid ongoing trade conflicts and political tensions.
According to statements from China’s Ministry of Commerce, the leaders agreed to make concessions to reduce bilateral friction.
The US agreed to lift the 10% tariffs on Chinese goods and suspend the 24% reciprocal tariff for one year, which concerns imports.
In response, China will review and refine its export control measures and develop detailed plans moving forward.
An important element of the agreements is also that both sides will suspend for one year investigations under Section 301 against Chinese maritime, logistics, and shipbuilding sectors.
This step is expected to help diminish long-standing trade gaps hindering economic cooperation.
Chinese President Xi Jinping, who participated in the negotiations, emphasized the importance of trade and economic collaboration as a driving force for stabilizing relations, rather than a source of conflict.
At the same time, US officials remain cautiously optimistic, saying that these agreements represent only initial steps toward rebuilding trust and stability, as the fundamental economic objectives have yet to be fully achieved.