After the tariff war unleashed months ago, both powers managed to reach an agreement during meetings in London. Washington and Beijing agreed commitments to rare earths and technologies.
After the preliminary agreement, Besent puts the focus on China to fulfill the truce.
Gentileness: The country
The representatives of the United States and China They reached, this Wednesday, a Preliminary understanding in commercial matters More than two months after the tariff war between both powers. After this, the Secretary of the United States Treasury, Scott Besentsaid the Asian giant has a “unique opportunity” to stabilize its economy and demanded that comply with the agreements achieved.
In detail, the preliminary commitment must be evaluated and approved by Presidents Donald Trump and Xi Jinping for its entry into force. “We have established a specific basis to advance in the implementation of the consensus previously reached in Geneva and in line with the recent conversation between our leaders,” said Howard Lutnick, Secretary of Commerce of the United States, at a press conference.
The request of the US Treasury Secretary to China after reaching a preliminary agreement
After reaching the commitment – During the meetings in London – The head of the American Treasury appeared before the Commission of Media and Arbitration of the House of Representatives, where he said that China has “a unique opportunity” to stabilize its economy by abandoning excess manufacturing production destined for export for greater internal consumption.
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Gentileness: Whyy
However, for this to happen, Besent said that “the country needs to be a reliable partner in commercial negotiations.” In this sense, the American representative added: “If China corrects the course fulfilling its share of the initial trade agreement that we outlined in Geneva last month, Then a beautiful and beautiful rebalance of the two greatest economies in the world is possible. “
In his words, Besent did not provide details about the frame agreed with China. Now, the final agreement will remain in the hands of Trump and Xi Jinping.
Negotiations between the US and China
Access to rare earths – essential minerals for technology and defense industry – was consolidated as a strategic axis in negotiations between China and the United States. As confirmed by Lutnick, this component “is a fundamental component” of the agreement reached, and its Resolution arrives during the implementation phase.
China maintains export restrictions of these minerals towards the US., While Washington limits the sale of advanced technology to Chinese companies. In this context, Lutnick anticipated that the White House I could make those barriers more flexible if Beijing guarantees rare earth supply, Key for sectors such as the manufacture of microchips, electric vehicles and precision armament.
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From the Chinese delegation they pointed out that bilateral negotiations They will continue in the coming months, with the aim of deepening the established commitments. The official Xinhua agency stressed that the advances in London “will contribute to strengthening mutual trust” between both powers.
The background of these treatments reflects a delicate geoeconomic balance: The United States seeks to strengthen its security for critical supplies, while China He insists that the restrictions that weigh on their access to sensitive technologies be lifted, especially the latest generation chips produced by North American firms.
Source: Ambito
