China's Commerce Ministry confirmed a trade deal framework established between Beijing and Washington during recent talks. President Trump announced the agreement, emphasizing rapid handling of rare earth materials. The deal aims to reduce tensions, reversing tariff hikes initially threatened. While the details remain vague, the pact underscores a mutual effort to stabilize trade relations and ensure supply chains crucial for technology and defense. Stock markets reacted positively to the easing of trade fears, highlighting the importance of this agreement in the international economic landscape.
China's Commerce Ministry announced Beijing and Washington confirmed a trade deal framework, with the US lifting restrictions and China reviewing export control applications.
US President Trump stated they signed a trade agreement, emphasizing his personal involvement in closing these deals and expectations for an India deal soon.
Commerce Secretary Lutnick confirmed the deal was 'signed and sealed' two days before the announcement, yet no specific details were disclosed by officials.
The trade deal formalizes previous agreements to avoid tariff hikes and addresses the critical supply chain for rare earth materials vital for technology.
#us-china-trade-relations #trade-deal #rare-earth-materials #economic-tensions #global-trade-negotiations
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