U.S.-China Trade Truce: Fragile Peace Stabilized Amid New Framework
The U.S. and China have reached a framework agreement to stabilize their fragile trade truce. Key provisions include set tariffs and removal of certain Chinese export restrictions. However, multiple specifics and implementation details remain unclear, raising questions about the long-term impact of the deal on global markets and bilateral relations.
A significant step has been taken to stabilize the U.S.-China trade truce, as both nations agreed on a new framework covering tariff rates. U.S. President Donald Trump announced the development, emphasizing the removal of Chinese export restrictions on rare earth minerals and the permission for Chinese students to access U.S. universities.
Continued negotiations in London led to a comprehensive discussion, where U.S. Commerce Secretary Howard Lutnick described the meeting as putting 'meat on the bones' of last month's Geneva agreement. Despite the landmark agreement reducing tariffs, details remain sparse as U.S. officials assured the public of fixed tariff rates for Chinese imports.
While optimism surrounds this development, bilateral disagreements over export controls persist. U.S. Treasury Secretary Scott Bessent confirmed that access to high-end AI chips remains restricted, with no quid pro quo in place. Both sides now await approval from their presidents to proceed with implementation.
(With inputs from agencies.)
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