The U.S. and China have formalized a trade agreement following discussions in Geneva, which mitigated tariff hikes that threatened trade stability. President Trump expressed optimism about future deals, specifically mentioning India. Commerce Secretary Howard Lutnick affirmed the signing of the deal, which reportedly addresses the contentious issue of rare earth exports, crucial for high-tech products. China's recent move to expedite export approvals for these materials indicates a shift in focus from tariffs to trade facilitation, highlighting ongoing tensions between the two nations in their trade relationship.
The president likes to close these deals himself. He's the dealmaker. We're going to have deal after deal.
We just signed with China the other day.
China announced earlier this week that it was speeding up approvals of exports of rare earths.
The agreement struck in May in Geneva called for both sides to scale back punitive tariff hikes.
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