US lifts export restrictions to China on additional products and services

Synopsys, Cadence Design Systems and Siemens - the world's three largest developers of electronic design automation (EDA) software - said on Wednesday they are restoring access to their software and technologies for customers in China .

Earlier in the day , the United States also sent letters to ethane producers seeking to lift restrictive licensing requirements on exports to China that were imposed in late May and June, Reuters reported.

The restrictions on EDA software and ethane producers were just some of many countermeasures imposed by the administration of U.S. President Donald Trump in response to China's suspension of exports of rare earth elements and rare magnets.

Beijing’s move on rare earths, part of a retaliation for Trump’s earlier tariffs this year, has upended supply chains crucial to automakers, the aerospace industry, semiconductor companies and defense contractors, threatening to derail a bilateral trade deal, Reuters reports.

China's Commerce Ministry said on Friday it had confirmed a framework under which China will process export applications for controlled goods while the United States lifts related restrictive measures.

“ The United States has escalated to ease . It has imposed restrictions on many other goods to force the Chinese to back down on rare earth restrictions,” a source familiar with the U.S. government discussions told Reuters.

"As the United States and China continue to honor this framework agreement, we will see many of these restrictions disappear. We are back to the status quo where we were in February/March," the anonymous source added.