#USChinaTradeTalks The US signaled a willingness to remove restrictions on some tech exports in exchange for assurances that China is easing limits on rare earth shipments, which are critical to a wide array of energy, defense and technology products, including smartphones, fighter jets and nuclear reactor rods. China accounts for almost 70% of the world’s production of rare earths.

Specifically, the Trump administration is prepared to remove a recent spate of measures targeting chip design software, jet engine parts, chemicals and nuclear materials, people familiar with the matter said. Many of those actions were taken in the past few weeks as tensions flared between the US and China.

Trump was noncommittal about lifting export curbs, telling reporters “we’ll see” when asked about the possibility of such a move.