After two days of negotiations in London, officials say previous agreement struck in Geneva will be implemented, pending approval of Donald Trump and Xi Jinping
Officials from the US and China have agreed on a “framework” to move forward on trade after two days of talks in London stemming from their confrontation over tariffs.
The US commerce secretary, Howard Lutnick, expressed optimism on Tuesday that concerns about critical or “rare earth” minerals and magnets “will be resolved” as the deal is implemented.
Lutnick told reporters that the framework puts “meat on the bones” of a deal reached last month in Geneva to ease retaliatory tariffs. Its implementation had faltered over China’s curbs on critical mineral exports. The deal also would remove some US export restrictions that were recently put in place, Lutnick said.
“We have reached a framework to implement the Geneva consensus and the call between the two presidents,” Lutnick said. “The idea is we’re going to go back and speak to President Trump and make sure he approves it. They’re going to go back and speak to President Xi and make sure he approves it, and if that is approved, we will then implement the framework.”
