Without providing specifics, Trump claims that the United States and China have inked a trade agreement.

Without providing specifics, Trump claims that the United States and China have inked a trade agreement.

ANGKOK — President Donald Trump stated that the United States and China have completed a trade agreement and that he anticipates signing a deal with India shortly. The agreement was inked earlier this week, Howard Lutnick, the secretary of commerce, said Bloomberg TV. Trump and Lutnick did not elaborate on the terms of the deal. Late Thursday, Trump declared, “We just signed with China the other day,” The agreement was “signed and sealed” two days prior, according to Lutnick.

It was unclear whether the most recent agreement differed from the one Trump had announced two weeks prior, in which he said it would facilitate American industry’ access to rare earth materials and magnets, which are desperately required. The U.S. agreed to cease attempting to cancel Chinese nationals’ visas on American college campuses, and the agreement paved the path for the trade negotiations to proceed. According to China’s Commerce Ministry, the two parties have “further confirmed the details of the framework.” However, the U.S.’s access to rare earths—minerals used in high-tech applications that have been at the heart of the negotiations—was not specifically mentioned in its statement.

Applications for the export of restricted goods that satisfy legal requirements will be accepted by China. As a result, the US will lift a number of restrictive policies imposed on China. According to the statement, “it is hoped that the United States and China will meet each other halfway.” The deal comes after preliminary negotiations in Geneva in early May, which resulted in both parties delaying significant tariff increases that threatened to halt a large portion of trade between the two nations. The agreement Trump referred to seemed to codify the foundation for negotiations that had been established by subsequent discussions in London.

The president prefers to seal these agreements on his own. He is the negotiator. Lutnick declared, “We’re going to have deal after deal.” China said earlier this week that it was expediting licensing of rare earth exports, which are elements used in high-tech products like electric vehicles, but it has not disclosed any new agreements. One of the main points of dispute has been Beijing’s restrictions on rare earth exports. The Chinese Commerce Ministry announced on Thursday that Beijing had authorized “a certain number of compliant applications” and was speeding up the review of rare earth export license applications.

Following China’s imposition of permitting requirements on seven rare earth elements in April, which threatened to disrupt the production of cars, robots, wind turbines, and other high-tech products in the United States and around the world, export controls of the minerals appear to have taken precedence over tariffs in the most recent round of trade negotiations between Beijing and Washington.

China has also lately taken action on the fentanyl problem. Last week, it declared that it would designate two additional substances as fentanyl precursor chemicals, subjecting them to export, transportation, and production rules. In order to prevent the flow of these precursor materials to Mexican drug cartels, who use them to manufacture fentanyl for sale in the United States, Trump has called on Beijing to take further action. As part of the present 30% general duties on Chinese goods, he levied 20% tariffs on Chinese imports due to the fentanyl problem.

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