A venture capital fund backed by Fidelity Investments’ billionaire Johnson family plans to unload its Chinese technology holdings amid heightened tensions between Beijing and Washington, according to people familiar with the matter.

Chinese electric-vehicle makers led by BYD beat Tesla in the competition to produce affordable electric vehicles. Now, many of those same fierce competitors are pulling into the passing lane in the global race to produce self-driving cars.

Donald Trump has said the US and China’s deal to restore their trade war truce is “done” after two days of marathon negotiations in London. In a post on his Truth Social network on Wednesday the US President hailed a breakthrough reached in bilateral talks in London late the night before.

The United States and China have agreed on a framework to implement their trade truce, officials on both sides said Wednesday, after concluding two days of talks in London to defuse tensions and ease export restrictions that threaten to disrupt global manufacturing.

China has leverage it can use by limiting access to its rare earth supplies, but it does not want to sacrifice its reputation as a reliable supplier.

Control of minerals used in electronics has given Beijing powerful leverage in trade negotiations with the U.S.

In the largest single foreign investment in US history, Taiwan Semiconductor Manufacturing Company (TSMC), the world’s “most powerful company” according to US President Donald Trump, unveiled a $100 billion investment,

Chinese EV makers are moving quickly to develop driver-assistance systems in a market where car-buyers are demanding them at a faster pace than in other regions, analysts say. Their ability to do so at lower costs poses the biggest threat to Tesla’s new autonomy-based business model.