US lifts chip software curbs on China amid trade truce

The US government has rescinded its export restrictions on chip-design software to China, semiconductor software companies Synopsys and Cadence announced, Report informs via NBC News.

"Synopsys is working to restore access to the recently restricted products in China," the California-based software maker said in a statement.

Its rival, Cadence, confirmed with CNBC that the US Bureau of Industry and Security, which falls under the Department of Commerce, had reversed the export restrictions.

"We are in the process of restoring access to our software and technology to affected customers in compliance with US export laws," a Cadence spokesperson said.