The US and China have signed a trade agreement, as confirmed by President Trump and China's Ministry of Commerce. This deal formalizes details from earlier negotiations held in Geneva and London, aiming to implement a framework for reducing tariffs and expediting shipments of rare earths to the US. As part of the agreement, the US plans to revoke certain restrictive measures against China while China will approve export applications for specific controlled items. Both sides are working closely following these negotiations to ensure effective implementation.
China will review and approve applications for the export control items that meet the requirements in accordance with the law.
The deal follows the Geneva agreement that led both China and the US to postpone massive tariff hikes for 90 days as they sought to reach a broader trade deal.
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