The Chinese Ministry of Commerce announced on Friday that Beijing and Washington confirmed the details of a trade deal framework that the two countries agreed after negotiations in London earlier this month.
For the ministry’s statement, Washington wants to take and approval applications for the export control items, and Beijing “will review and approve.”
Late on Thursday, US President Donald Trump announced that the United States and China have signed a trade agreement and hopes they expect them to reach a deal with India. “We only signed with China on the second day,” said Trump.
Mauhile, Commerce Secretary Howard Lutnik told Bloomberg TV that the deal was “signed and sealed” two days ago. No details about the agreement were provided by Ether Lutnik or Trump.
“The President liked to close the thesis,” said Lutnik. So on Thursday, the White House officially announced that the United States resumed a trend with China how to accelerate the shipment of rare earth content in the US.
What do we know about China’s trade talks?
The US and China’s declaration follows the initial dialogue in Geneva in early May, which caused both sides to postpone Tariff Hike on a large scale, threatening to stop trade between the two countries.
Later talks in London prepared an outline for talks, and the Trump and the Chinese Commerce Ministry signed a deal to formalize that agreement.
Ensuring the supply of rare earth elements – necessary for products, including electric vehicles, hard drives and national defense equipment – has been the top priority for Washington in interaction with Beijing.
In early April, China – which dominates the global production of these elements – began the need for an export license, a step widely seen as a reaction to Trump’s tariff.
Shares increased in Europe and Asia as investors assessed signs of reducing trade tension between the United States and China.
Chinese Foreign Minister visited European Union, Germany, France next week
On Friday, Bei -Tunch that Chinese Foreign Minister Wang Yi will travel to Europe next week to meet his counterparts from the European Union, Germany and France.
Foreign Ministry spokesman Guo Jiyakun said that the top diplomat of China will meet his European Union equivalent, Kaja Kalas, at the headquarters of the block.
In Germany, Wang wants to discuss diplomacy and security with Forent Minister Johann Wadeful, and in France, he wants to meet with the Minister of Jean-Noel Barot of Europe and Foreign Affairs.
While living in Brussels, Wang wants to meet Belgian Prime Minister Bart Day Weaver and Deputy Prime Minister and External Affairs Minister Maxim Prevot.
Edited by: Keran Burke