After two days of discussions in London, President Trump announced a preliminary agreement with China aimed at lowering economic tensions that have escalated over tariffs. Key aspects include China relaxing restrictions on vital shipments of rare earth minerals necessary for U.S. manufacturing, while the U.S. would refrain from imposing visa restrictions on Chinese students. Notably, punitive tariffs remain unchanged for now, indicating that further negotiations may be needed to achieve long-term stability in trade relations.
Under the agreement, China would relax its restrictions on shipments of rare earth minerals and magnets critical for some U.S. manufacturers, in return for U.S. actions.
The levies between the two countries will remain unchanged, and a 90-day pause in implementing some of the tariffs will expire in August.
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