U.S President, Donald Trump and Chinese president, Xi Jinping
US President Donald Trump revealed that the United States has signed a trade agreement with China, stating, “We just signed with China yesterday.”
Trump made the announcement during a White House event focused on promoting a government spending bill.
Although Trump didn’t provide specific details about the deal, a White House official later clarified that the agreement was related to implementing a framework previously agreed upon in Geneva.
This framework includes provisions to expedite rare earth mineral exports, which China had restricted since April.
The agreement comes after months of escalating trade tensions between the two nations, with Trump launching a trade war in February and increasing tariffs on Chinese goods to as much as 145% in April. However, there were signs of easing tensions earlier this month, with Trump stating that the two countries had agreed in principle to reduce export restrictions on rare earths.
“We are having some great deals,” Trump said, expressing optimism about the agreement.
He also hinted at a potential “very big” deal with India, stating that his administration is “working overtime” on the agreement.
The Chinese government has not yet commented on the reported agreement.
Trump’s announcement has sparked interest in the potential implications for global trade and markets.
