US President Donald Trump said today (Thursday) that the United States signed an agreement yesterday with China related to trade, without going into details, and indicated that there is a possible agreement soon with India.
Trump made these comments during an event at the White House aimed at promoting the government spending law that wants to pass it before the July 4 holiday.
For his part, a White House official said that the United States had reached an agreement with China on how to accelerate rare ground mineral shipments to the United States, amid efforts to end the trade war between the two largest economies in the world.
During trade talks between the United States and China in May in Geneva, Beijing committed to removing non -customs counter measures imposed on the United States since April 2, but it was not clear how some of these measures will be canceled.
In the context of China’s response to the new American customs duties, Beijing suspended exports of a wide range of important minerals and magnets, which led to the disturbance of supply chains necessary for car manufacturers, aircraft, semi -conductors and military contractors around the world.
A White House official said: “The US administration and China have agreed on an additional understanding of a framework for the implementation of the Geneva Agreement,” a White House official said.
He added that the understanding “is related to how to implement rare land materials to the United States again.”
Another US administration official said that the agreement between Washington and Beijing was concluded earlier in the week.
“They will deliver us rare Earth elements,” Bloomberg, USA, quoted US Trade Minister Howard Lootnick, and as soon as they do, “we will cancel our counter -actions,” Bloomberg was quoted by US Trade Minister Howard Lootnick as saying.
The agreement shows possible progress after a few months characterized by fog and commercial turmoil in the wake of Trump’s return to the White House in January, but also confirms that the road is still long for a final trade agreement between the two countries.
A source said that China takes the restrictions imposed on rare ground minerals with a “seriously carried” and was scrutinized in buyers to ensure that these materials are not converted into US military uses. This slowed the process of granting licenses.
The Geneva Agreement stumbled due to the restrictions imposed by Beijing on rare metal exports, prompting the Trump administration to respond by imposing export controls that prevent the shipments of semiconductor design programs, aircraft, and other goods to China.
