U.S. lifts chip software curbs on China amid trade truce

The U.S. government has rescinded its export restrictions on chip-design software to China, semiconductor software companies Synopsys and Cadence announced Thursday.

"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 U.S. 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.

The U.S. had reportedly told several chip design software companies on May 23 that they were required to obtain licenses before exporting goods, such as software and chemicals for semiconductors, to China.

Other software providers impacted by the ban include Siemens EDA, a subsidiary of Germany's Siemens. These firms have also been told they may resume their China business, according to reports.

The U.S. Commerce Department did not immediately respond to a request for comment from CNBC.

The news comes after China signaled last week that they are making progress on a trade truce with the U.S. and confirmed conditional agreements to resume some exchanges of rare earths and advanced technology.