White House officially announced a new trade and economic agreement with China Main terms: China: - Removes export restrictions on rare earth metals and critical minerals necessary for American industry. - Ceases supplies of fentanyl precursors and implements global controls over their circulation. - Freeszes retaliatory tariffs on U.S. agricultural products (soybeans, corn, meat, dairy products). - Commits to purchasing 12 million tons of American soybeans by the end of 2025 and 25 million tons annually from 2026 to 2028, and also resumes imports of sorghum and timber. - Allows the resumption of operations for American chip manufacturer Nexperia and terminates investigations against semiconductor companies. United States: - Reduces tariffs on Chinese imports from 20% to 10% starting November 10. - Suspends new trade restrictions and investigations for one year. - Extends Section 301 tariff exemptions through the end of 2026. The agreement aims to reduce tensions and restore stability in global trade.

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