London recently hosted high-stakes trade talks between the US and China, aiming to de-escalate ongoing tariff disputes. Following a phone call between Trump and Xi, negotiators in London worked to establish a "framework deal." Trump declared a "done deal" including China supplying rare earth metals and the US allowing Chinese students, with new tariffs set at 55% for Chinese goods and 10% for US imports. China, however, has struck a more cautious tone, acknowledging progress but not fully confirming Trump's claims. While a framework is in place, final approval and detailed implementation remain critical.
