The United States and China have agreed to a ‘framework’ that is intended to facilitate economic tension and to expand a trade reinforcement that reached the world’s two largest economies last month, said civil servants from both countries on Tuesday.
After two days of marathon negotiations in London, top economic officers from the United States and China are now expected to be the new framework to their leaders, President Trump and President Xi Jinping, for final approval.
The agreement is intended to strengthen the conditions of a deal that the United States and China reached in May in Switzerland that have been unraveled in recent weeks. Howard Lutnick, the commercial secretary who was part of the negotiating team, said that the American concerns about the limitations of China on the export of rare earth minerals and magnets had been resolved.
“We have reached a framework to implement the consensus of Geneva,” Mr. Lutnick told reporters in London.
He added that Mr. Trump and Mr. Xi would be informed of the agreement before it came into force.
“They were aimed at trying to deliver what President Xi President Trump said,” said Mr. Lutnick. “I think both parties had extra impulse to get things done.”
The American trade representative, Jamieson Greer, who participated in the discussions, said they were also aimed at guaranteeing compliance with what had been agreed in Geneva about rare mineral exports and rates. He said that the two parties would keep regular contact if they tried to work due to their economic disagreements.
The Chinese Minister of Vice Commerce, Li Chenggang, said that the conversations were professional, reasonable, substantive and candid, According to Chinese state media.
Treasury Secretary Scott Bessent, who had led the American delegation, left on Tuesday at the end of Tuesday to return to Washington for Congress hearings on Wednesday. On the Chinese side, the negotiations were led by Lifeng, the Deputy Prime Minister who is responsible for economic policy.
The two parties were looking for a solution for painful economic measures that they had imposed on each other in recent months. After Mr Trump raised rates on Chinese goods in April, Beijing was tied to the export of Critical minerals and magnetsthreaten to close the activities of American manufacturers, Defense contractors And others.
In a meeting in Geneva last month, the American and Chinese officials agreed to reverse rates and other retaliation measures. But civil servants of the Trump administration were relieved when Chinese shipments of the rare earth minerals and the magnets made with them remained rare and they accused China to violate the agreement in Geneva.
American officials responded by clamp About the export of American products and technology to China, including software for making semiconductors, gases such as ethane and butane and nuclear and space components. American officials also suggested spending Chinese students registering in the United States.
The Chinese government denied that its rare earthy measures were directed in the United States and said that American officials were those who had broken the agreement in Geneva.
This week, officials met each other in Lancaster House in London to try to restore their ceasefire. The conversations only came a few days after Mr. Trump had held A 90 -minute phone call With Mr. Xi, the Chinese leader – the first time that the two heads of state had spoken directly since Mr Trump returned to the office in January.
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