US and China Reach Trade Framework Amid Tariff Reductions
The US and China have agreed on a trade framework, reducing tariffs significantly while continuing negotiations to resolve ongoing trade disputes.
Critical minerals give China an edge in trade negotiations
Associated Press
Trade war truce between US and China is back on
ARS Technica
Rally Incoming... Get Ready
Breitbart News
US-China trade talks in London enter their second day
Associated Press
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Overview
- The US and China have agreed to reduce tariffs by 115 percentage points and implement a 90-day suspension to resolve trade tensions.
- Negotiations took place in Geneva and London, resulting in a framework agreement to ease trade disputes.
- President Trump announced a 55% tariff on Chinese imports, while China will impose a 10% tariff on American goods as part of the deal.
- Global stock markets reacted positively, with significant gains in major indices following news of the trade agreement.
- The framework includes provisions for rare earth minerals and access for Chinese students to US colleges, indicating a broader scope of cooperation.
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Analysis
Emphasizes ongoing U.S.-China trade talks aimed at resolving disputes and easing tensions.
"The high-level negotiations over China's export controls of rare earths is giving U.S. businesses some relief, even though it may be only for now."
ABC News"The high-level negotiations over China’s export controls of rare earths is giving U.S. businesses some relief, even though it may be only for now."
Associated Press"China's dominance over critical minerals in global supply chains was a powerful bargaining chip in trade talks between Beijing and Washington that concluded with both sides saying they have a framework to pursue a deal."
ABC News"China’s dominance over critical minerals in global supply chains was a powerful bargaining chip in trade talks between Beijing and Washington that concluded with both sides saying they have a framework to pursue a deal."
Associated Press"President Trump wrote on social media that a trade deal with China is "done.""
NPR"The deal revived a trade truce agreed in Geneva last month that subsequently faltered because of differences over Chinese rare earth exports and US export controls."
ARS Technica"President Donald Trump said a trade deal with China "is done, subject to final approval.""
ABC News"The framework deal puts meat on the bones of an agreement reached last month in Geneva to ease bilateral retaliatory tariffs."
CBS News"The deal may keep the Geneva agreement from unravelling over duelling export controls, but does little to resolve deep differences over Trump's unilateral tariffs and longstanding U.S. complaints about China's state-led, export-driven economic model."
USA TODAY"Asian shares mostly rose Wednesday after China and the U.S. said they had agreed on a framework for following up on the trade truce reached last month in Geneva."
ABC News"Global shares mostly rose Wednesday after China and the U.S. said they had agreed on a framework for following up on the trade truce reached last month in Geneva."
Associated Press"The announcement of an apparent thaw in relations followed two days of talks in London."
CBS News"The U.S. and China have agreed in principle on a framework to carry out an agreement they reached on resolving their trade disputes last month, Chinese state media said."
NPR"The US and China say they have agreed in principle to a framework for de-escalating trade tensions between the world's two biggest economies."
BBC News"The U.S. and China have reached consensus on trade, representatives from both sides said following a second day of high-level talks in London."
NBC News"Signs of hope have appeared in recent days."
NBC News"The U.K. government says it's providing the venue and logistics for the U.S.-China talks but is not involved in them."
NPR"The U.S. and China are holding a second day of talks Tuesday in London aimed at easing their trade dispute, after President Donald Trump said China is “not easy” but the U.S. was “doing well” at the negotiations."
ABC News"World shares were mixed on Tuesday as investors kept a wary eye on China-U.S. trade talks that could have a huge impact on the global economy."
ABC News"World shares were mixed on Tuesday as investors kept a wary eye on China-U.S. trade talks that could have a huge impact on the global economy."
ABC News"The U.S. and China held a second day of talks Tuesday in London aimed at easing their trade dispute, after President Donald Trump said China is “not easy” but the U.S. was “doing well” at the negotiations."
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FAQ
The agreement involves a reduction of tariffs by 115 percentage points, with a 90-day suspension to ease trade tensions. Additionally, China will impose a 10% tariff on American goods, while the US will have a 55% tariff on certain Chinese imports.
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