China will effectively suspend the implementation of additional export controls on rare earth metals and terminate investigations targeting U.S. companies in the semiconductor supply chain, the White House announced.

The White House issued a fact sheet on Saturday outlining some details of the trade pact agreed to earlier this week by President Donald Trump and Chinese leader Xi Jinping that aimed to ease tensions between the world¡¯s largest economies.

Under the deal, China will issue general licenses valid for exports of rare earths, gallium, germanium, antimony and graphite ¡°for the benefit of U.S. end users and their suppliers around the world,¡± the White House said, meaning the effective removal of controls China imposed in April 2025 and October 2022. The U.S. and China previously said Beijing would suspend more restrictive controls announced in October 2025 for one year.

The framework also states that China will terminate its antitrust, anti-monopoly and anti-dumping investigations into U.S. chip companies, including those into Nvidia and Qualcomm, according to a U.S. official, who spoke on condition of anonymity.

Washington will also pause some of Trump¡¯s so-called reciprocal tariffs on China for an additional year and is halting plans to implement a 100% tariff on Chinese exports to the U.S. that was threatened for November. The White House also said the U.S. will further extend the expiration of certain Section 301 tariff exclusions, currently due to expire on Nov. 29, 2025, until Nov. 10, 2026.

U.S. Treasury Secretary Scott Bessent said Sunday that despite deals, the U.S. and its allies need to be wary of China.

¡°This is a problem that has been with us for several decades, it¡¯s never been addressed with these rare earths, the rare earth magnets,¡± Bessent said on Fox News Sunday. ¡°The Chinese have cornered the market, and unfortunately, at times, they proved to be unreliable partners.¡±

Bessent added that he hoped ¡°we can depend on them to be more reliable partners¡± after the implementation of the deal.

¡°China stands ready to work with the U.S. to act on the important common understandings between the two presidents, and continuously shorten the list of problems and lengthen the list of cooperation through dialogue and consultation,¡± the Chinese Embassy in Washington said in a statement Sunday.

The landmark summit between Trump and Xi, their first face-to-face meeting of the U.S. president¡¯s second term, saw the leaders stabilize relations in the short term after an escalating trade fight that had roiled markets and sparked fears of a global downturn.

Under their agreement, according to the White House, China agreed to pause sweeping controls on rare-earth magnets in exchange for a U.S. agreement to roll back an expansion of curbs on Chinese...