China Commits to Removing Export Restrictions as Part of Trump-Xi Agreement

China has pledged to “effectively eliminate” all restrictions on the export of rare earth elements as part of the trade agreement between US President Donald Trump and Chinese President Xi Jinping. The agreement also entails the removal of tariffs on US agricultural products by China and the resumption of the export of crucial chips used in the automobile industry. Following the recent meeting between the two leaders in South Korea, the White House disclosed that China would lift both existing and prospective export controls on rare earths and critical minerals. In exchange for these concessions, the White House announced a…