China agreed to delay its recent rare earth export controls after the Trump-Xi meeting, but restrictions from April will remain in effect.
It was the April controls that, within weeks, caused shortages across the auto supply chain, forcing automakers to pause production at some plants.
April’s rules limit exports of seven rare earth metals, including magnets vital to automakers, defense firms, and chipmakers.
Beijing's recent restrictions would have made it hard for countries to obtain Chinese technology and equipment to develop their own rare earth refineries.
Trump told reporters aboard Air Force One as he left South Korea that his administration expects China’s decision to delay these rare earths export restrictions to be “routinely extended.”