According to the White House, the agreement is intended to provide American companies with stable access to materials necessary for the production of advanced technologies, and China will benefit from the reopening of the market to its agricultural products and other exports. As part of the deal, Beijing also pledged to halt exports of fentanyl precursors, ease restrictions on U.S. semiconductor companies and increase purchases of U.S. agricultural products.
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What resources has China lifted its blockade?
What are the key metals in production?
When was the ban on the export of rare earth metals introduced?
What benefits does China gain from opening its market?
China lifts blockade on key resources. White House announcement
As reported by UPI, the Chinese Ministry of Commerce announced on Sunday the suspension of a ban on the export of certain rare earth metals to the US in an attempt to ease trade tensions. These metals are key, among others: in the production of advanced semiconductors, explosives and anti-tank ammunition. China has a dominant position in the global market for these raw materials.
Beijing introduced the export ban in December 2024, before the start of President Donald Trump's second term, “to protect national security and national interests and to fulfill international obligations, such as the non-proliferation of nuclear weapons.”
According to China's latest announcement, the export ban on five metals will be suspended until November 27, 2026. This decision was made after President Trump's October meeting with Chinese President Xi Jinping in South Korea. Both sides saw it as a step towards stabilizing trade relations after several years of tensions.
— China's statement on Sunday did not refer to the broader trade framework or blanket licenses described by the White House. Instead, it only said the suspension of the 2024 export ban would last for one year, a divergence in the U.S. and Chinese take on the deal, UPI noted.
