White House Releases Details of U.S.-China Agreement, Ensures Chip Exports from Onsemi | WPN World People News

On November 1, the White House released details of the agreement reached during the U.S.-China leaders’ meeting. According to the announcement, China will temporarily ease certain export controls on rare earths and critical minerals and issue general export licenses allowing global shipments of rare earths, gallium, germanium, antimony, and graphite, benefiting U.S. end users and suppliers. This move effectively cancels China’s previous tariff measures on U.S. agricultural products. Beijing will also terminate multiple investigations targeting U.S. semiconductor companies and assist the Netherlands-based Onsemi in resuming shipments from its factories in China to stabilize chip production.

Under the agreement, China will purchase at least 12 million tons of U.S. soybeans between November and December this year and commit to annual purchases of no less than 25 million metric tons over the next three years. China has also agreed to resume imports of U.S. sorghum and logs, signaling its intention to deepen agricultural trade cooperation. The move is seen as a key step toward easing bilateral trade tensions.

China has further pledged to strengthen controls on exports of fentanyl precursor chemicals, halt shipments of related materials to North America, and enhance global chemical export oversight. In response, the United States will reduce tariffs on Chinese fentanyl-related products from 20% to 10% starting November 10 and extend the Section 301 tariff exemptions for another year. President Trump stated that if China continues to curb fentanyl outflows, the U.S. may lift the remaining tariffs and suspend new port fees to promote bilateral cooperation.