U.S.-China Reach Agreement on Trade Framework
(MENAFN) After two full days of negotiations in the United Kingdom, the United States and China have come to a preliminary agreement on a framework and roadmap for implementing prior trade commitments, according to China’s lead trade representative, Li Chenggang.
“The two sides agreed, in principle, the framework for implementing the consensus of the two heads of state in their firm call on the 5th of June, as well as the consensus of the meeting in Geneva,” Li told reporters during a briefing in London late Tuesday.
Li said both delegations will now brief their respective leaders on the discussions and the agreement reached during this latest round of talks.
Describing the atmosphere over the past several days, Li noted that both negotiating teams were “very diligently” engaged, and their interactions were “very professional, rational, in-depth and candid.”
He added that the breakthrough could help restore mutual trust between Washington and Beijing, improve bilateral trade ties, and contribute positively to global economic stability.
The latest discussions, which began Monday in London, focused on several contentious trade issues, including Beijing’s limits on rare earth exports to the U.S., Washington’s tech export restrictions targeting China, and an ongoing disagreement over tariffs.
These meetings followed a recent phone conversation between U.S. President Donald Trump and Chinese President Xi Jinping. Trump later described the call as having “resulted in a very positive conclusion for both countries.”
This new framework builds upon the agreement reached on May 12 in Geneva, where both nations committed to a 90-day freeze on new tariffs and a phased rollback of trade restrictions imposed since early April, when Trump first introduced what he called “reciprocal” tariffs.
However, despite that agreement, each side has recently accused the other of breaching its terms, adding urgency to this week’s negotiations in London.
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