China to ease chip export ban in new trade deal, White House says
The deal de-escalates a trade war between the world's two largest economies after Trump hit China with tariffs after he entered office this year, leading to rounds of retaliatory tariffs and global business uncertainty.
The nations also reached agreements on US soybean exports, the supply of rare earth minerals, and the materials used in production of the drug fentanyl.
The White House confirmed details of the deal in a new fact sheet after Xi Jinping and Donald Trump met in South Korea this week.
China will begin easing an export ban on automotive computer chips vital to production of cars across the world as part of a trade deal struck between the US and China, the White House has said.
A spokesman for the Chinese Embassy in Washington told the BBC that details of the agreements reached had been shared by "competent authorities".
"China-US economic and trade relations are mutually beneficial in nature," he said.
"As President Xi Jinping noted, the business relationship should continue to serve as the anchor and driving force for China-US relations, not a stumbling block or a point of friction."
Speaking on Sunday following the release of the deal details, Treasury Secretary Scott Bessent told CNN: "We don't want to decouple from China… (But) they've shown themselves to be an unreliable partner."
Much of what is in Saturday's fact sheet was announced by Trump and other officials following the meeting between the two leaders.
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