The agreement aims to ease the trade tensions that have intensified between the two countries in recent years.
Under the agreement, China will lift export controls on rare earths and critical minerals. Accordingly, China will issue general export licenses for rare earth elements, gallium, germanium, antimony, and graphite. This decision effectively ends the export restrictions that have been in place since 2023.
Other measures include the termination of China’s anti-dumping and anti-monopoly investigations targeting U.S. companies, the resumption of chip production at Nexperia facilities, and the removal of sanctions related to the maritime and shipbuilding industries between the two countries. The United States will suspend the enforcement of Section 301 investigation measures for one year; thus, punitive trade actions against China’s maritime and shipbuilding sectors will not be applied during this period. Washington will continue negotiations with China during this process while maintaining industrial and shipbuilding cooperation with South Korea and Japan.
The agreement was concluded during the final leg of Trump’s Asia tour. Following South Korea, the U.S. President also signed similar trade and investment agreements in Malaysia and Japan.
Comments
No comment yet.