TL;DR: The White House announced that China will restart exports of key metals such as gallium, germanium, antimony, and graphite to the US under a new trade deal aimed at easing tensions and stabilizing supply chains.
What Happened
- On November 2, 2025, the White House announced a trade agreement with China to resume exports of gallium, germanium, antimony, and graphite to the United States.
- The deal suspends export controls China had imposed since 2024 and allows shipments through “general licenses” to approved US buyers.
- The agreement followed talks between President Donald Trump and Chinese President Xi Jinping in Busan, South Korea, on October 30, 2025.
Key Details
- The resumed exports are expected to ease shortages in industries such as semiconductors, defense, and renewable energy.
- Broader restrictions remain on certain rare earth elements, including samarium and dysprosium.
- China’s Ministry of Commerce has not yet issued a separate official statement confirming these details.
Broader Trade Truce Terms
- The US paused planned 100% tariffs on Chinese goods for one year.
- China suspended retaliatory tariffs and pledged to buy at least 12 million metric tons of US soybeans by late 2025.
- Both sides committed to relax restrictions on semiconductor and chip exports.
- China also pledged to tighten controls on exports of fentanyl precursors.
Market Impact
- US stock futures rose about 1% on November 3, 2025, and tech and EV shares gained.
- Analysts say the truce offers short-term relief to global manufacturers but note China still controls most of the world’s supply of these metals.
Public Reaction
- Posts from market and crypto influencers called the move “bullish for markets,” while some users questioned its long-term stability.