Recent China-U.S. trade negotiations have achieved a phased breakthrough, with both sides agreeing to gradually eliminate most tariff barriers. In the first phase (July 2025), 65% of additional tariffs will be removed, covering consumer goods, agricultural products, etc., which is expected to reduce trade costs by 12%. Cooperation has been reached in the semiconductor and clean energy sectors, with the U.S. easing some technology export restrictions to China, and China opening its new energy market. However, sensitive areas such as electric vehicles and AI still maintain a 'safety barrier' mechanism. Although the negotiations have alleviated short-term friction, structural differences such as technological competition and industrial subsidies remain, and future games may shift towards rule-making. Recently, a deadlock in negotiations has re-emerged, with the U.S. accusing China of restricting rare earth exports, while China criticizes the U.S. for unilateral sanctions, indicating that deep-seated contradictions have not been resolved.