"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."
"Chinese Embassy in Washington spokesman Liu Pengyu told the BBC in a statement that details of the agreements reached had been shared by "competent authorities". "China-US economic and trade relations are mutually beneficial in nature," he said. "As President Xi Jinping noted, the business relationship should continue to serve as the anchor and driving force for China-US relations, not a stumbling block or a point of friction.""
"Speaking on Sunday following the release of the deal details, Treasury Secretary Scott Bessent told CNN: "We don't want to decouple from China (But) they've shown themselves to be an unreliable partner." Much of what is in Saturday's fact sheet was announced by Trump and other officials following the meeting between the two leaders. Trump had described the talks, held in South Korea, as "amazing", while Beijing had said they had reached a consensus to resolve "major trade issues"."
China will ease an export ban on automotive computer chips vital to vehicle production worldwide as part of a trade deal with the United States. The agreement includes provisions on US soybean exports, the supply of rare earth minerals, and materials used in fentanyl production. The deal reduces trade tensions after a period of US-imposed tariffs and Chinese retaliatory measures that disrupted global business and supply chains. Chinese officials stated that agreement details were shared by competent authorities and characterized economic ties as mutually beneficial, with business relations framed as an anchor for bilateral ties. US officials said they do not seek decoupling but called China an unreliable partner.
Read at www.bbc.com
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