In a significant development for U.S.-China trade agreement, the U.S. has lifted some export controls on chip design software sales in China, previously imposed in May, that required licenses for certain tools and chemicals.

The administration of US President Donald Trump has lifted restrictions on exports of chip design software to China, as Washington and Beijing work to dial down hostilities as part of a recent trade agreement.

The U.S. and China have agreed on the framework for a trade deal, both nations say. It appears that rare earth minerals are one key part of it.