US says it struck framework deal with China to restore trade war truce

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American Trade Secretary Howard Lootnick said that American and Chinese negotiators agreed to a framework agreement to restore a truce in their trade war after the marathon negotiations in London.

The penetration regains the ceasefire on the trade war that was reached in Geneva last month, which stumbled due to the differences in rare Chinese land exports and US export controls.

Lootnick said at the end of two days of talks in London that the American team will return to Washington to present the deal to President Donald Trump. No details about the frame.

Lee Chenggang, a Chinese trade official, said he hoped to create negotiations, which he described as professional and frank, more confidence between the two countries, according to Reuters. He told me that the Chinese team will also provide an agreement on President Xi Jinping.

In the deal reached by the American and Chinese negotiators in Geneva last month, both countries Agree to the cutting The definitions of each of them on the other by 115 percentage points, and a 90 -day window provided a solution A commercial war of the United States of China. However, the ceasefire was pressure after Washington accused Beijing of submitting an agreement to accelerate the export of rare land, and China criticized new export controls in the United States.

Lootnick and American Trade Representative Jameson Jarir joined the Treasury Secretary Scott Payet in talks in London with the Chinese delegation led by Hying, Deputy Prime Minister in charge of the economy. Earlier on Tuesday, Lootnick said the talks could extend to a third day.

Bessent left London before the talks ended to return to Washington before a previously scheduled plan to testify in front of Congress on Wednesday.

The talks in central London at the government -owned Lancaster House Palace, a short distance from Buckingham Palace.

The historical place, a home to the wine government of 39,000 people, was provided by the British government as a neutral land of talks between the great economic powers.

The talks followed a call last week between Trump and Shi.

The London meeting is the first face -to -face talks between him and Bessent since a 90 days of truce The mediation was made in Geneva.

High risk negotiations were launched to ensure two difficult issues- Chinese exports of rare land For controls for the export of American and American technology on China – the broader talks have not been hindered.

Before the first round of the talks in Geneva, Bessent warned of the high definitions imposed by each side on the other hand to a ban on bilateral trade. Which confirms the risks, Chinese exports to the United States fell more severely in May, on an annual basis, more than any time since the epidemic in 2020.

While the United States accused China of not honoring its pledge from Geneva to ease the restrictions imposed on rare Earth exports, Beijing has increased pressure on Washington to get rid of export controls related to technology. He was also angry at the US declaration New restrictions After the Geneva meeting.

The United States has accused China of picking up foot on rare land shipments, which are decisive to defense, cars and technology industries. The pace of slow approvals affected the supply chains of manufacturing in the United States and Europe.

Beijing accused Washington of “seriously violating” the Geneva agreement through a new issue Warnings of using Huawei chips worldwideStop sales of chips design programs for Chinese companies and cancel visas for students from the country.

On Monday, a senior White House official indicated that Trump may reduce the restrictions of the sale of chips to China if Beijing agrees to accelerate the export of rare land.

This would rise to a major change in politics from the Joe Biden administration, which carried out what was called “a small square, a high wall” designed to restrict Beijing’s ability to obtain an American technology that can be used to help the army in China.