#USChinaTradeTalks 🇺🇸🇨🇳 *LATEST: The US and China Reach a Preliminary Agreement on the Framework for a New Trade Deal*
After two days of intensive negotiations in London, the United States and China have reached a preliminary agreement on the framework for a new trade deal. This development aims to implement the agreements made during previous talks in Geneva, including a 90-day pause on increased tariffs between the two countries.
🤝 Key Points:
- *Framework Agreement*: US Secretary of Commerce Howard Lutnick and Chinese Vice Minister of Commerce Li Chenggang confirmed the preliminary agreement, pending approval from Presidents Trump and Xi .......
- *Rare Earth Minerals*: The framework aims to address issues related to rare earth minerals, which are crucial for technology and defense.
- *Tariff Reduction*: This agreement seeks to restore elements of the Geneva pact, which includes tariff reductions and China's commitment to expedite export licenses for critical minerals.
- *Approval Still Pending*: Final approval of this framework is still awaiting confirmation from US President Donald Trump and President Xi of China .....
📉 Market Reaction:
Despite high anticipation from investors, the announcement had little impact on the future of US stocks, which dipped slightly.
🔍 What's Next?
While this framework represents a step forward in US-China trade relations, analysts view the outcome as minimal progress, describing it as a reaffirmation rather than a breakthrough. The success of this agreement will depend on final approval and the resolution of critical issues such as the flow of essential minerals vital to industries like electronics, automotive, and defense.
Stay connected for further updates as the situation develops.
