China confirms deal with US to bosst tech cooperation
The United States and China have come to an agreement on a new trade arrangement aimed at reducing technology constraints and facilitating rare earth exports, as stated in a Friday announcement from China's Ministry of Commerce.Under this agreement, China will process export applications for items governed by its regulations, while the U.S. will lift some trade barriers affecting Beijing, according to a spokesperson from the ministry, who did not provide further details.
This announcement follows remarks made by U.S. President Donald Trump on Thursday during an event at the White House, where he declared, “we just signed with China yesterday.”
A White House representative later clarified that both countries had arrived at “an additional understanding of a framework to execute the Geneva agreement.”
Earlier this month, U.S. Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng conducted trade discussions in London, during which both parties reached an agreement to implement the Geneva consensus after two days of talks.
This agreement signifies a pivotal moment in reducing hostilities between the two nations, which had been engaging in mutual accusations of breaching the Geneva trade pact.
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