Beijing on Thursday paused export controls on rare earths, while Washington cut fentanyl-linked tariffs, following a high-stakes meeting between U.S. President Donald Trump and his Chinese counterpart Xi Jinping in South Korea.

The Chinese export controls, announced on Oct. 9 , will be delayed by one year, while the U.S. will similarly postpone implementation of measures announced Sept. 29 that expanded restrictions on blacklisted companies to include their majority-owned subsidiaries, China's Ministry of Commerce said .

Trump told reporters aboard Air Force One as he left South Korea that the meeting with Xi was "amazing" and that "a lot of decisions were made."

"Rare earth issue has been settled," Trump said, adding that it was a 1-year agreement that will be negotiated every year

See Full Page