China Suspends Retaliatory US Export Controls, Sanctions

China is suspending a trade and investment ban against more than a dozen US companies as part of the trade agreement struck by the world’s two biggest economies. 

The suspensions started Wednesday and will last for 90 days, according to a statement from the Ministry of Commerce. China is also suspending export controls related to goods, technologies and services for military uses that it applied to 28 US entities.

The announcement comes days after both countries agreed to temporarily lower tariffs on each other’s products, with China also pledging to pause or cancel its retaliatory non-tariff countermeasures. The truce and the prospect of a permanent resolution was met with widespread relief among investors, causing stocks and the dollar to surge in the immediate aftermath.