Daily Updates News 
In a significant development, China has confirmed reaching a framework agreement with the United States to de-escalate ongoing trade tensions. The announcement, made by China’s Commerce Ministry on Friday, outlined mutual commitments from both nations following recent discussions in London and Geneva.According to the ministry, Washington has agreed to lift certain restrictive trade measures, while Beijing will review and approve applications for controlled exports in accordance with Chinese law. This follows months of tit-for-tat tariffs and disputes over rare earth exports.
The breakthrough builds upon the earlier Geneva consensus, where both sides tentatively agreed to reduce steep tariffs on each other’s goods. However, talks had stalled after U.S. officials accused China of delaying rare earth export licenses, a critical component in manufacturing electric vehicles, semiconductors, and defense technology.Now, officials on both sides have reportedly finalized a framework to implement the Geneva understanding. A White House official confirmed to AFP that President Trump’s administration had “agreed to an additional understanding” to enforce the terms of the previous agreement.
While President Trump recently hinted at a trade deal with China during a public event, no detailed statement had followed until Beijing’s confirmation. The Commerce Ministry expressed hope that both countries would “meet halfway” to ensure the smooth implementation of the deal.Meanwhile, the U.S. is also considering delaying a July deadline for increased tariffs on dozens of countries, signaling more flexibility as talks continue.
This new agreement could mark a pivotal moment in U.S.-China relations, offering a potential path toward more stable economic cooperation amid global supply chain pressures and geopolitical rivalry.
