The US and China just shook hands on what the White House is calling a landmark trade agreement. The deal spans tariffs, critical minerals, fentanyl precursor controls, semiconductor disputes, and agricultural market access, touching virtually every friction point that has defined the economic relationship between the world’s two largest economies.
What’s actually in the deal
China has committed to issuing general licenses for exports of rare earths, gallium, germanium, antimony, and graphite. These are the building blocks of everything from electric vehicle batteries to advanced semiconductors to defense systems.
China is also suspending expanded export controls that were announced on October 9, 2025.
On the fentanyl front, China has agreed to controls on precursor chemicals, the raw ingredients that flow through supply chains (often via Mexico) before ending up as synthetic opioids on American streets.
