US Secretary of Commerce Howard Lutnick will speak to media members on Tuesday, June 10th, 2025, as he arrives at trade talks at Lancaster House, London, UK.
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The US and China have reached a trade agreement, representatives from both sides said after a second day of high-level consultations in London.
“We have arrived at a framework for implementing the Geneva consensus and the call between the two presidents,” U.S. Secretary of Commerce Howard Lutnick told reporters.
It reflected a comment from Li Chenggang, China’s international trade representative and deputy minister of China’s Ministry of Commerce.
US President Donald Trump and Chinese President Xi Jinping spoke on phone late last week, stabilizing what both countries had accused each other of violating the Geneva trade agreement. At a meeting in Switzerland in mid-May, the world’s two largest economies agreed to a 90-day refusal for mutual tariffs added in April, as well as a rollback of certain other measures.
“Lutnick says he and US trade representative Jamieson Greer will return to Washington, D.C., to confirm that President Trump will approve the framework.” If Xi approves it, “I’ll implement the framework,” Lutnick said.
China’s restrictions on rare earth exports to the US are a “basic part” of the latest agreement, and the US expects this issue to be resolved with the implementation of this framework,” Lutnick said.
He showed that in recent weeks, restrictions on Advanced Tech’s sales to China will be repeated as Beijing has approved rare earth exports.
Chinese state media quickly announced XI’s phone call with Trump last week, but Beijing’s official mouthpiece was notably silent more than an hour after Lutnick’s comments. The latest national media report on Tuesday night focused on how US-China discussions continued after local time during lunch break.
Previously, the Treasury Department of the U.S. Treasury Department, Scott Bescent, told reporters he returned to the United States to testify before Congress on Wednesday.
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