Trump and Xi Seal Tentative Trade Truce: A Glimmer of Hope in Global Economy
A trade agreement between the U.S. and China was announced following discussions between President Trump and President Xi Jinping. The deal seeks to ease tensions between the top two global economies, although specifics remain unclear. The agreement includes tariff arrangements and reaffirms commitments from both nations.
China confirmed a trade deal with the United States on Thursday, following U.S. President Donald Trump's announcement. The agreement, attained after a call between Trump and President Xi Jinping, comes as both nations look to avoid escalating their trade conflict.
"China has always kept its word and delivered results," stated Lin Jian, a Chinese foreign ministry spokesperson. Both countries are expected to honor the consensus reached, intended to ease bilateral tensions exacerbated by the previous imposition of mutual tariffs.
The trade deal, which leaves some details unspecified, includes an arrangement on reciprocal tariffs, addressing issues such as China's mineral export restrictions and U.S. semiconductor export controls. President Trump expressed his satisfaction, highlighting the agreement supports educational exchanges and outlines specific tariff percentages.
(With inputs from agencies.)
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