By David Lawder

WASHINGTON (Reuters) -U.S. President Donald Trump and Chinese President Xi Jinping on Thursday took steps to de-escalate their trade war, swapping some U.S. tariff reductions and tighter export controls for a pause in Beijing’s new restrictions on rare earth minerals and magnets and a resumption of its purchases of American soybeans.

The deal averts Trump’s threatened 100% tariff on Chinese goods and extends a delicate trade truce between the world’s two largest economies for about a year.

Here are some of the key elements of the Trump-Xi agreement that was reached in Busan, South Korea:

TARIFF REDUCTION ON FENTANYL-RELATED CHINESE GOODS

The U.S. will cut in half Trump’s current 20% tariff on Chinese goods related to supplies of fentanyl opioid precursor chemicals comi

See Full Page