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US, China Reach Trade Framework Pending Presidential Sign-Off

US, China Reach Trade Framework Pending Presidential Sign-Off

Top officials from the United States and China have reached a preliminary agreement aimed at easing trade tensions between the world’s two largest economies.

The breakthrough came after two days of negotiations in London, focusing heavily on rare earth exports and tech restrictions.

According to report from BBC, US Commerce Secretary Howard Lutnick confirmed the outcome, stating both nations had agreed “in principle” on a framework to implement the Geneva consensus. The plan now heads to President Donald Trump and President Xi Jinping for final approval.

Rare Earths and Tech in Focus

Rare earth minerals were a key sticking point during the talks. These materials—essential for products like smartphones, electric vehicles, and defense equipment—have been subject to delays and restrictions from both sides in recent months.

Washington has accused Beijing of slowing exports of these critical resources, while China has criticized the US for restricting access to American technology, including semiconductors and AI-linked components.

Lutnick said the proposed deal would address these bottlenecks: “The goal is to resolve restrictions around rare earth minerals and magnets once this framework is implemented.”

Path to Presidential Approval

China’s Vice Commerce Minister Li Chenggang echoed the statement, confirming that the framework aligns with the June 5 phone call between Trump and Xi, as well as with prior agreements made during the Geneva meeting.

“The two sides have, in principle, reached a framework for implementing the consensus reached by the two heads of state,” Li stated.

The plan now hinges on executive sign-off. If approved, the deal could mark a major step toward stabilizing a volatile trade relationship that has seen tariffs, export controls, and mutual accusations in recent years.

Author
Kosta Gushterov

Reporter at Coindoo

Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.

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