China confirms details of a trade deal

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The U.S. and China have confirmed details of a trade framework that seeks to allow rare earth exports and easing of tech restrictions, according to a statement released by China’s Ministry of Commerce Friday afternoon.

China will review and approve export applications for items subject to export control rules, while the U.S. will cancel a range of existing restrictive measures imposed against Beijing, a spokesperson for the ministry said in the statement, without elaborating.

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