4 weeks ago
7
The US and China say they have agreed in principle to a framework for de-escalating trade tensions between the world’s two biggest economies.
US Commerce Secretary Howard Lutnick said the deal should bring a resolution to restrictions on rare earth minerals and magnets.
Both sides said they would now take the plan to their presidents – Donald Trump and Xi Jinping – for approval.
The announcement came after two days of negotiations in London between top officials from Beijing and Washington.
Chinese exports of rare earth minerals, which are crucial for modern technology, were high on the agenda of the meetings.
Last month, Washington and Beijing agreed on a temporary truce over trade tariffs, but each country has since accused the other of breaching the deal.
English (US) ·