The United States and China have reached a framework agreement aimed at easing trade tensions following two days of high-level talks in London.
The discussions, which concluded on Tuesday, 10 June, marked a significant step toward resolving ongoing disputes between the world's two largest economies.
Led by U.S. Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng, the negotiations sought to build on a preliminary trade deal reached in May in Geneva.
The agreement, pending approval from both U.S. President Donald Trump and Chinese President Xi Jinping, focuses on key issues such as export controls and rare-earth minerals.
As part of the framework, China has committed to resuming its exports of rare-earth minerals to the U.S., a crucial component for various high-tech industries.
In exchange, the U.S. plans to ease some restrictions on technology exports to China, though it will maintain limits on high-end Nvidia chips used in artificial intelligence systems.
The talks follow recent tensions, including U.S. export controls on Huawei's AI chips and China's approval of rare earth export licenses to U.S. companies.
Both sides have accused each other of breaching the Geneva agreement, adding urgency to the London discussions.
While the framework reflects a mutual interest in de-escalating trade conflicts, some unresolved details remain, and skepticism persists regarding the potential for further disruptions.
The agreement underscores the complex interdependence of the U.S. and Chinese economies and highlights the broader geopolitical implications of their trade relationship.
