China Lifts Export Curbs On Rare Earths, Other Goods After Xi-Trump Meeting

Last Updated:October 30, 2025, 13:32 IST

Earlier this month, Beijing announced controls on the export of rare-earth technologies and items, adding to existing regulations in the critical industry

News18

China will soon resume exports of rare earth materials and some other goods after lifting restrictions in the wake of a fruitful meeting between Chinese President Xi Jinping and US President Donald Trump.

A spokesperson from China’s Ministry of Commerce said that China will suspend the implementation of the relevant export control measures, which were announced on October 9, for one year and will study and refine specific plans.

Earlier this month, Beijing announced controls on the export of rare-earth technologies and items, adding to existing regulations in the critical industry.

Beijing has announced to make “corresponding adjustments" to its countermeasures against the US tariffs as Washington promised to cancel 10 percent “fentanyl" tariffs and suspend 24 percent reciprocal tariffs levied on Chinese goods, including goods from HongKong and the Macao special administrative region for an additional year.

This comes after Trump and Xi met for the first time since 2019 in Busan, South Korea amid a blistering trade war between two biggest economies.

Chinese state media reported that President Xi said China has reached a consensus with the United States on economic and trade issues.

The tussle between the world’s top two economies, which encompasses everything from rare earths to soybeans and port fees, has rocked markets and gummed up supply chains for months.

On Thursday, Xi told Trump that the two countries “should have positive interactions on the regional and international stage", Chinese state news agency Xinhua reported.

Xi said that teams from both sides had “exchanged in-depth views on important economic and trade issues and reached a consensus on resolving them", according to the Xinhua readout which offered no details on specific agreements reached.

“Both teams should refine and finalise follow-up work as soon as possible, maintain and implement the consensus and provide tangible results to set minds at ease about the economies of China, the United States and the world," he added.

(with inputs from AFP)

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