US Commerce Secretary Howard Lutnik spoke to media members on Tuesday, June 10, 2025, while arriving for a trade talks at Lancaster House in London, UK.
Bloomberg | Bloomberg | Getty images
The US and China have reached an agreement on trade, after the second day of high-level talks in London, representatives of both sides said, with the deal, now the leaders of both countries are waiting for a node.
“We have reached a framework to implement Geneva’s consensus and calls between the two presidents,” US Commerce Secretary Howard Lutynik told reporters.
It echoes comments from Lee Chengung, an international trade representative of China and a vice -president in the Chinese Ministry of Commerce.
US President Donald Trump and Chinese President Xi Jinping spoke to the phone at the end of the last week, which had become a terrible relationship with each other of violating the Geneva trade agreement with each other with the two countries. At a meeting in Switzerland in mid-May, two of the world’s largest economies agreed to a rollback of the 90-day suspension of the mutual tariff added in April and some other measures.
Lutnik said he and American trade representative Jaimison Greer Washington would go back to DC, to ensure that President Trump approved the outline of the deal “. If Xi also agreed, if Xi also agreed,” we will implement the framework, “Lutnik said.
The fact that the two sides will now brief their leaders “a clear indication that some disagreement or unresolved details still require internal discussion,” said Jianvei Joo, senior economist of Natix. He said that the framework agreement indicates a commitment to the de-sscale and continues the dialogue process, but will it give rise to “solid agreements or important successes”.
Chinese restrictions on rare-earth exports in the US are a “fundamental part” of the latest agreement and the US hopes that the issue will be resolved in this framework implementation, “Lutnik said.
He indicated that US sanctions on the sale of advanced technology in China in recent weeks will be withdrawn as Beijing approves rare-earth exports.
Senior Advisor and Trustees Chair at Chinese Business and Economics at Center for Strategic and International Studies at Washington, DC said, “The deal is availed from two sides on each other, not for general principles or shared interests,” for the general principles or shared interests, “Washington, DC in DC, Center for Strategic and International Studies at the Center for Strategic and International Studies in the Chinese Business and Trustr “The possibility is quite high for further stops and starts,” said.
While the Chinese state media was in a hurry to announce Xi’s call with Trump last week, more than an hour after the comments of Beijing’s official mouthpiece Lutynic were silent, except for a lower-profile mention of Vice Commerce Minister Lee, it was said that the talks helped to build a bilateral trust.
Local time period in London on Tuesday, US Treasury Secretary Scott Besant told reporters that he had returned to the US to testify before the Congress.
The Chinese Vice Premier He was the chief negotiator on trade talks with the US, and Chinese Minister Wang Wonto also participated in this week’s discussions.
China’s CSI 300 index was trading a little more, while American stock futures were down as investors were waiting for the details on the business structure.
