China Suspends Export Controls for One Year.

A New Era in Trade Disputes Between China and the USA

As negotiations on trade between China and the USA progress positively, significant openings have come from the Chinese government. Following a meeting between President Donald Trump and President Xi Jinping, China announced on October 9 that it would suspend export controls for a year.

Developments in Rare Earth Elements and Agricultural Products

In the same announcement, it was stated that controls on rare earth elements would also not be applied for a year. Furthermore, it was emphasized that China has reached an agreement with the USA to enhance trade in agricultural products. In this regard, it was expressed that large amounts of soybeans and other agricultural products would be purchased.

New Agreements and Commitments in Trade

After the meeting between the two leaders, Trump stated in his announcements that following China's commitment regarding the control of fentanyl and precursor substances, the USA has reduced its additional tariff on China from 20% to 10%. This development is considered a significant step in trade relations.

Trump also emphasized that after the talks, there were no obstacles remaining on rare earth elements and that they would continue the production process worldwide, expressing hope to reach a permanent agreement by the end of the year.

Developments Regarding Tiktok

In statements made by China, it was promised that a suitable solution would be found regarding the popular social media application Tiktok. This situation stands out as another important step towards normalizing relations between the two countries.