China agreed to suspend for a year some of its limits on exports of rare earth metals, while the U.S. halved its fentanyl-related tariffs.

© Haiyun Jiang/The New York Times

China agreed to suspend for a year some of its limits on exports of rare earth metals, while the U.S. halved its fentanyl-related tariffs.

Tariffs triggered a plunge in China’s exports to the United States, but its global trade surplus is larger because sales to other regions are surging.