US and China reached a framework agreement to ease trade tensions, including relaxing export controls on crucial goods and technologies. Both sides agreed in principle to roll back restrictions on rare earth minerals and semiconductors, although specifics remain undisclosed. The deal requires approval from both leaders before implementation. This follows recent friction over export controls and China's dominance of rare earth minerals, highlighting the increasing importance of these controls in the US-China trade war.

Prepared by Christopher Adams and reviewed by editorial team.