United Kingdom, Nov. 3 -- China will begin lifting its ban on the export of automotive computer chips following a trade agreement reached between Xi Jinping and Donald Trump, the White House has confirmed.

The deal, which also covers US soybean exports, rare earth minerals, and the chemicals used to produce the drug fentanyl, was announced after the two leaders met in South Korea last week.

Their agreement marks a major de-escalation in the ongoing trade war between the world's two largest economies, which began after Trump, 79, imposed tariffs on Chinese goods earlier this year, prompting a wave of retaliatory measures from Beijing.

According to a White House fact sheet, China will "take appropriate measures to ensure the resumption o...