New US-China Pact Pauses Tech Ban, Averts Rare Earth Crisis

A new one-year pact between the US and China has successfully averted a crisis over rare earth minerals and paused a controversial US tech ban. The deal was struck in a meeting between President Donald Trump and President Xi Jinping.
China has agreed not to tighten restrictions on exports of rare earths, a move that counters Trump’s earlier threat of a 100% import tax. In a major concession to Beijing, the US also agreed to postpone for one year a measure that would have blocked thousands of Chinese firms from accessing US technology.
The broader deal also includes the US slashing some tariffs and export controls, while China has agreed to purchase US soybeans.
Following the talks, President Xi addressed the APEC forum in South Korea. He championed open trade, warning against “breaking supply chains” and urging nations to “join hands rather than letting go.”
Both leaders praised the meeting, which Trump called “amazing.” Xi remarked that “dialogue is always better than confrontation” and urged teams to finalize the deal quickly for global “peace of mind.” Reciprocal state visits are now planned, with Trump heading to China in April.