After a call between Trump and Xi Jinping, China confirmed the trade agreement with the United States and asked to respect the consensus reached. The pact seeks to reactivate the tariff truce, includes concessions in rare earths and educational access.
He Chinese government He confirmed on Thursday the new commercial agreement reached with the United States, and said that both parties must comply with the consensus achieved. The statement comes after a telephone conversation between the US president, Donald Trump, and his Chinese couple, Xi Jinping, which allowed to unlock the stagnation arising around the preliminary gin pact.
“China has always fulfilled its word and has obtained concrete results,” said Lin Jian, spokesman for the China Ministry of Foreign Affairs, during a press conference. “Once the consensus is reached, both parties must respect it.”
The agreement represents a Truce in the prolonged commercial war between the two largest economies in the world. After the conversation between the two leaders, negotiations in London resumed, where – according to US officials – progress was made to give specific content to the agreed frame in Genevamainly about the reduction of reciprocal tariffs.
It should be remembered that the Geneva Agreement had begun to stagger for the restrictions imposed by China to the export of strategic minerals, which led to the United States to apply controls to the export of sensitive technological products, such as semiconductor and engines design software.
President Trump celebrated the progress: “Our agreement with China is closed, waiting for final approval between President XI and I“He published in Truth Social.” China will provide complete magnets and rare earths needed in advance. For our part, we will allow Chinese students to access our universities, something that always seemed positive. ”
Trump tariffs April 2025
US will also impose base tariffs of 10% to China and other countries
Trump also assured that a tariff scheme will be maintained in which The United States would retain 55% and China 10%. From the White House they explained that 55% arises from the sum of a base tariff of 10% that the US imposes on almost all its commercial partners, additional 20% due to the lack of China’s actions against fentanyl traffic, and 25% of tariffs already in force about imported goods from China from Trump’s first mandate.
For its part, the China Ministry of Commerce He reiterated that he will continue to review the rare earth export applications, without detailing how many licenses will be approved this week. “China is willing to improve communication and dialogue on export controls with the countries involved, and to promote trade facilitation in accordance with regulations,” said spokesman He Yadong.
Despite the announcement, The details of the final agreement and its implementation mechanisms have not yet been fully definedso the markets follow the next steps of both governments.
Source: Ambito
