Provisional Trade Agreement Reached Between US and China

Reuters

Treasury Secretary Scott Bessent and Chinese vice premier He Lifeng meet in London.

The United States and China have reached a provisional framework agreement aimed at easing ongoing trade tensions, according to Reuters. The announcement followed two days of high-level discussions held in London, building on an earlier understanding reached in Geneva last month.

As part of the agreement, China will resume the export of rare-earth minerals to the US, while the United States will continue to grant access to Chinese students at its universities. Despite this progress, American tariffs on Chinese imports will remain at 55%, with China maintaining its own tariffs at 10%.

The agreement is subject to final approval from US President Donald Trump and Chinese President Xi Jinping. Although markets responded cautiously, analysts expressed optimism that the deal could pave the way for improved economic cooperation between the two powers.

Further details are expected once both governments formally endorse the agreement.



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