Trade War Thaw: US Delays Tech Ban, China Buys Soybeans

A significant thaw in the US-China trade war has begun, with the US agreeing to delay a contentious tech ban and China committing to buy US soybeans. This one-year deal was reached after a meeting between Presidents Trump and Xi.
The US will postpone a measure for one year that would have blocked thousands of Chinese firms from accessing American technology. This rule, which Beijing strongly opposed, was a major point of friction.
In addition to buying soybeans, China also agreed to pause any new restrictions on the export of rare earth minerals. This led President Trump to back off his threat of a 100% import tax on the materials.
In return for these Chinese commitments, the US will slash some tariffs and export controls, providing relief to global markets. Trump called his meeting with Xi “amazing” and announced plans for a state visit to China in April.
President Xi, speaking at the APEC forum in South Korea, echoed the cooperative tone. He called on nations to “join hands” and protect supply chains, warning against “breaking” them.