Daijiworld Media Network – Washington
Washington, Jun 27: The White House on Thursday signaled fresh momentum in trade relations with China, announcing that both sides have reached a new understanding on several issues, including expedited shipments of rare earth minerals to the United States.
The progress follows high-level talks in Geneva in May and a recent follow-up meeting in London. A White House official confirmed to AFP that President Donald Trump’s administration and Chinese officials have now ‘agreed to an additional understanding for a framework to implement the Geneva agreement.’
President Trump hinted at the breakthrough during a public event, saying the US had ‘just signed’ a deal with China, though he did not elaborate. US Commerce Secretary Howard Lutnick later clarified on Bloomberg TV that the framework had been “signed and sealed,” pending top-level approval.
Earlier, the two countries had agreed to temporarily ease punitive tariffs on each other’s goods. However, tensions flared when US officials accused Beijing of delaying rare earth export licenses. That deadlock now appears to have been resolved under the new framework.
In a related development, the White House also hinted at the possibility of extending a July 9 deadline for the imposition of steeper tariffs on multiple trading partners.
“The deadline is not critical,” said Press Secretary Karoline Leavitt. “The president can simply provide these countries with a deal if they refuse to make us one by the deadline.”
She added that Trump retains the flexibility to “pick a reciprocal tariff rate that he believes is advantageous for the United States.”
Commerce Secretary Lutnick said the administration will be announcing trade deals in the coming week. “Those who have deals will have deals, and everybody else... will get a response,” he stated.
US Trade Representative Jamieson Greer is leading the effort and is reportedly engaged in “good and productive discussions” with several key partners, Leavitt confirmed.
As the July 9 deadline looms, trading partners around the world are watching closely to see how Washington proceeds.