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
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.
Both countries agreed in Geneva to a 90-day suspension of most of the 100%-plus tariffs imposed on each other in an escalating trade war.
President Trump announced that a trade deal with China is completed pending final approval.
Britain's FTSE 100 index increased by approximately 0.25% to reach 8,862.915.
Brent crude, the international standard, increased by 17 cents to $67.045-$67.22 per barrel.
The U.S. dollar strengthened against the Japanese yen, reaching 145.11 yen from 144.84 yen and then 144.63 yen from 144.61 yen.
Tensions have escalated between the U.S. and China since the Geneva talks, with disputes arising over advanced semiconductors, visas for Chinese students, and rare earth minerals.
China is considering easing export restrictions on rare earths, which are crucial for multiple industries.
Beijing is urging the U.S. to remove restrictions on Chinese access to technology necessary for producing advanced semiconductors.
The U.S. and China are in London for a second day of trade talks.
Howard Lutnick announced a framework to implement the Geneva consensus.
Articles (61)
"…All of which makes these hard-line trade deal deadlines seem more like a soft promise written with erasable ink."
MSNBC·19d·"…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."
PBS NewsHour·19d·"…The US and China have agreed on a framework to get their trade truce back on track and remove China’s export restrictions on the rare earth imports essential to US industries including automotive, electronics and defence."
The Guardian·20d·"…The two countries agreed a framework that, it is hoped, will ease tensions between the two economic superpowers."
The Guardian·20d·"…While news of a deal on rare earths signals a potential reprieve for manufacturers, the details of its implementation remain largely unclear."
Al Jazeera·19d·"…The United States and China say they’ve reached in principle a framework to roll back some of the punitive measures they have taken against each other’s economies."
Al Jazeera·20d·"…President Trump wrote on social media that a trade deal with China is "done.""
NPR·20d·"…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·20d·"…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·18d·"…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·19d·"…President Donald Trump said a trade deal with China "is done, subject to final approval.""
ABC News·20d·"…The framework deal puts meat on the bones of an agreement reached last month in Geneva to ease bilateral retaliatory tariffs."
CBS News·20d·"…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·20d·"…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·19d·"…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·19d·"…The U.S. and China have reached a "framework" to implement a trade deal struck between the two sides last month in Geneva, Commerce Secretary Howard Lutnick announced."
Fox Business·20d·"…The new 55% tariff rate would mark a meaningful increase from the 30% levy set in Switzerland during talks in May."
Boston Herald·20d·"…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."
Boston Herald·20d·"…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."
Newsmax·19d·"…The two sides on Tuesday wrapped up two days of talks in London that appeared to focus on finding a way to resolve disputes over mineral and technology exports that had shaken a fragile truce on trade reached in Geneva last month."
Newsmax·20d·"…The two sides on Tuesday wrapped up two days of talks in London that appeared to focus on finding a way to resolve disputes over mineral and technology exports that had shaken a fragile truce on trade reached in Geneva last month."
Newsmax·20d·"…The two sides on Tuesday wrapped up two days of talks in London that appeared to focus on finding a way to resolve disputes over mineral and technology exports that had shaken a fragile truce on trade reached in Geneva last month."
Newsmax·20d·"…Hume emphasized what he said was the importance of these minerals, adding they are vital for a range of high-tech products."
Daily Caller·19d·"…Trump’s pledge to continue to allow Chinese students to study in the U.S. is a reversal from Secretary of State Marco Rubio’s announcement at the end of May that the U.S. would begin revoking the visas of Chinese students."
Daily Signal·20d·"…The two largest economies in the world have reached a handshake for a framework."
Western Journal·20d·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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