China, U.S. agree on framework deal to ease trade tensions
發佈日期: 2025-06-11 21:15
TVB News
After a second day of China-U.S. trade talks, a Chinese representative says both sides have reached a framework agreement, now awaiting approval from top leaders of the two countries.
The Chinese delegate expressed the hope that the progress made in London will be conducive to more mutual trust and stable and sound development of China-U.S. trade and economic ties.
Meanwhile, U.S. officials expect Chinese restrictions on rare-earth exports will be resolved as a fundamental part of the framework agreement.
At about midnight UK time, top officials from Beijing and Washington wrapped up more than 20 hours of "rational, in depth and candid" talks over two days at the historic Lancaster House in London.
China's International Trade Representative Li Chenggang and Commerce Minister Wang Wentao were part of the Chinese delegation led by Vice Premier He Lifeng.
Following the meetings, Li told reporters that both sides have agreed on a trade framework in principle for implementing the consensus reached during the June 5th phone conversation between the two countries' presidents, as well as an earlier agreement sealed in meetings in Geneva last month.
He added the delegates will now report the framework agreement to their respective top leaders for approval.
In a separate briefing, U.S. Commerce Secretary Howard Lutnick stated the two sides have reached a handshake for a framework, affirming officials will be present in London on Wednesday if need be.
Howard Lutnick said: "So I think both sides had extra impetus in order to get things done because we both have our presidents behind us, pushing us to make sure we take care of our respective sides."
Lutnick contended the framework deal puts "meat on the bones" of the consensus resulting from the Geneva meetings.
This as he expects the topic of rare earth, minerals and magnets with respect to the U.S. "will be resolved in this framework implementation."
As their second round of trade talks stretched on, the U.S. reportedly signalled willingness to remove restrictions on some tech exports in exchange for assurances that China will ease its limits on rare earth shipments.
Lutnick hinted the agreement reached in London is expected to remove Beijing's export curbs on those materials and a number of Washington's restriction measures "in a balanced way."
Global supply chains were rattled as China introduced new export restrictions on a group of heavy rare earths and rare earth magnets in early April in the wake of 145 percent tariffs slapped on China by the Trump administration.
The two countries reached at a 90-day deal on May 12th to roll back the triple-digit tariffs that they imposed on each other.
The halt is due to expire in early August.
