On Saturday, the White House provided further information regarding a trade agreement made earlier this week between U.S. President Donald Trump and Chinese President Xi Jinping.
According to the White House, China will lift the export restrictions on rare earth minerals that were announced in October, and will begin granting “general licenses for exporting rare earths, gallium, germanium, antimony, and graphite to benefit U.S. consumers and their global suppliers.”
Officials from the Trump administration state that this move will essentially undo the rare earth mineral restrictions that China put in place in April 2025 and October 2022.
China leads the world in rare earth mineral production, which is essential for manufacturing many technological devices. When China most recently imposed rules requiring foreign businesses to obtain licenses for even minimal exports of these minerals, the Trump administration responded by threatening to double tariffs to 100%.
The White House has now announced that it will stop the planned 100% tariffs and suspend other tariffs on Chinese imports for the next year.
