A new US-China deal will ease technology restrictions on Chinese firms and includes plans for mutual state visits, signaling a significant diplomatic thaw. The one-year pact was sealed by Presidents Trump and Xi.
The US agreed to postpone for one year a new measure that would have blocked thousands of Chinese firms from accessing American technology. This rule, strongly opposed by Beijing, was a major source of friction.
This concession was partof a broader deal where the US will slash some tariffs. In return, China will buy US soybeans and pause new restrictions on rare earth exports.
President Trump, who called the meeting “amazing,” announced he would visit China in April. President Xi is set to visit the US, possibly in Florida or Washington, D.C., at a later date.
Following the deal, Xi spoke at the APEC forum in South Korea, advocating for “genuine multilateralism” and warning against “breaking supply chains.”