Trump and Xi Jinping reach agreement on rare earths and tariffs in South Korea meeting

"Trump assured that China has agreed to delay its restrictions on rare earth exports, one of the main points of conflict, for a period of one year, and announced an immediate reduction from 20% to 10% on the tariffs imposed in February on Chinese products due to Washington's claim Beijing is not doing enough to stop exports of fentanyl precursors."

"Trump also said he would visit China in April and that Beijing would begin to buy large quantities of soybeans, according to several media outlets aboard the presidential flight. In addition, according to the Republican, the two leaders discussed the war in Ukraine: Were both going to work together to see if we can get something done, he said. I think it was an amazing meeting, the Republican summed up."

"A Chinese trade spokesperson detailed in a press conference that the United States has committed to suspending the expansion of the list of entities subject to export controls for one year. This regulatory change introduced by Washington in September, which potentially affected thousands of subsidiaries of Chinese companies, had sparked Beijing's fury: its response was to approve a series of additional restrictions on rare earths shortly thereafter, which in turn aroused Washington's anger. Now, the restrictions remain in limbo for the next 12 months."

China agreed to delay restrictions on rare earth exports for one year. The United States immediately reduced tariffs on certain Chinese products from 20% to 10% that were imposed in February over fentanyl-precursor export concerns. China will begin purchasing large quantities of soybeans and a U.S. presidential visit to China is planned for April. The two countries will cooperate on seeking progress toward resolution of the war in Ukraine. The United States committed to suspending expansion of the export-control entity list for one year. The previously announced Chinese rare-earth restrictions will remain in limbo while their detailed formulation is studied.

Read at english.elpais.com