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.
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.
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 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.