The United States and China have finalized a trade truce reached last month in Geneva, Switzerland, according to Commerce Secretary Howard Lutnick.

The agreement sets out terms laid out in trade talks between the two countries this year and includes China’s commitment to deliver rare earths used in various industries, Bloomberg News reported.

“They’re going to deliver rare earths to us,” and once they do that, “we’ll take down our countermeasures,” Lutnick told the outlet.

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