Tech world breathes sigh of relief at China trade détente

The Big Story

Tech world breathes sigh of relief at China trade détente

The tech industry is once again breathing a sigh of relief after the U.S. and China walked back trade tensions that threatened to disrupt key supply chains.

© AP Photo/Kiichiro Sato

Trade relations between Washington and Beijing devolved in the weeks leading up to Thursday's meeting between President Trump and Chinese President Xi Jinping in South Korea.

China placed new export controls on rare earth minerals, risking U.S. access to materials that are essential for semiconductors, electric vehicles and U.S. F-35 fighter jets.

Trump responded by threatening to place a 100 percent tariff on Chinese imports, jeopardizing tech supply chains heavily reliant on China.

However, the two sides reached an agreement to dee