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US-China talks, Trump: We reached an agreement on rare earths, tariffs and students

2025-06-11 21:20:44Kosova&Bota SHKRUAR NGA REDAKSIA VOX
US-China talks, Trump: We reached an agreement on rare earths, tariffs and
Trump and Xi Jinping

US President Donald Trump has declared that talks aimed at easing tensions between the US and China have ended with a "deal".

He said China has agreed to supply American companies with magnets and rare metals, while the US will back down from threats to revoke Chinese student visas.

"Our deal with China is complete, awaiting final approval by President Xi and myself," Trump wrote on Truth Social.

This came after two days of intense talks in London to resolve conflicts that had arisen since May, when the two sides agreed to a ceasefire after a rapid escalation of tariffs that had almost completely blocked trade between the world's two largest economies.

Last week, Trump and Chinese President Xi Jinping spoke on the phone to launch negotiations, which were attended by senior officials from both countries.

Details on the new agreement are limited. But officials said it will not fundamentally change the agreement reached in May, which reduced — but did not completely eliminate — new tariffs announced by both countries since Trump launched the trade war earlier this year.

"The two sides have reached, in principle, a framework for implementing the consensus reached by the two heads of state during the June 5 phone call and the meeting in Geneva," said Chinese Vice Minister of Commerce Li Chenggang.

US Commerce Secretary Howard Lutnick told reporters that the parties had "reached a framework for implementing the Geneva consensus".

"Once the presidents approve it, we will move to the implementation phase," he added.

“We’re absolutely on track,” he told CNBC. “Things are looking good.”

White House spokeswoman Caroline Leavitt said Trump is reviewing the details of the deal. “But what the president heard, he liked,” she added.

The negotiations in London were prompted in part by American concerns that China was deliberately delaying the export of magnets and rare earth minerals, which are essential for the production of everything from smartphones to electric vehicles.

On the other hand, Beijing has criticized controls that the US has put in place to limit China's access to semiconductors and other technologies related to artificial intelligence (AI), as well as the Trump administration's plans to restrict visas for Chinese students.

Speaking to CNBC, Lutnick said the US had agreed to lift some "countermeasures," without providing exact details on the respective responses.

Treasury Secretary Scott Bessent, who testified before Congress on Wednesday, said recent talks had been narrowly focused and that a broader agreement would take time.

“It will be a much longer process,” he said.

When Trump announced broad tariffs on imports from several countries earlier this year, China was hit hardest.

China responded with high tariffs on American imports, fueling further reciprocal escalation.

In May, talks in Switzerland led to a temporary ceasefire that Trump called “a complete reframe.”

The truce reduced new tariffs imposed by the US on Chinese products from 145% to 30%, while Beijing lowered tariffs on US imports to 10% and promised to remove barriers to the export of critical minerals. The two sides agreed to a 90-day deadline to reach a trade deal.

But later the US and China accused each other of violating commitments outside of tariffs.

In his social media post, Trump said the US would maintain a 55% tariff on Chinese goods, but officials clarified that this also included tariffs imposed during his first term.

Markets reacted little to the agreement, which Terry Haines, founder of the Washington-based consulting firm Pangaea Policy, described as “very limited in content and unfinished.”

"Getting back on track with the Geneva agreement is the bare minimum of achievement and does not suggest that a comprehensive trade deal or a US-China geopolitical rapprochement is imminent in the foreseeable future," Trump wrote.


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