U.S.-China agree on framework to implement Geneva trade consensus

The United States and China have concluded a trade agreement, representatives said on both sides after a second day of high-level talks in London.

“We have reached a framework to implement the Geneva consensus and the appeal between the two presidents,” US Secretary of the US Trade Tournick said to journalists.

This has echoed comments to journalists from Li Chenggang, representative of Chinese international trade and Vice-Minister of the Chinese Ministry of Commerce.

President Donald Trump and Chinese President Xi Jinping spoke by phone at the end of last week, stabilizing what had become a difficult relationship with the two countries that accused each other of raping the Geneva Trade Agreement. During a meeting in Switzerland in mid-May, the two largest economies in the world had accepted a suspension of 90 days of reciprocal prices added in April and a decline in certain other measures.

Lutnick said that he and US trade representative Jamieson Greer would return to Washington, DC, to “make sure President Trump approves” the framework. If Xi also approves it, then “we will implement the framework,” said Libnick.

The fact that the two parties will now inform their leaders “is a clear sign that certain disagreements or unresolved details still require an internal discussion,” said Jianwei Xu, principal economist at Natixis. “Acting on a framework” reflects a mutual commitment to de -escalation and continuous dialogue, but if this will lead to concrete agreements or substantial breakthroughs remains uncertain. “”

Chinese restrictions on rare land exports to the United States are a “fundamental element” of the last agreement and the United States expect the question “to be resolved in this implementation of the framework,” said Lux.

He said the American restrictions on sales of advanced technologies in China in recent weeks would be canceled while Beijing approves rare land exports.

“This agreement is registered together by the lever effect of the two parties, and not of the common principles or shared interests,” said Scott Kennedy, principal advisor and president of the Chinese business and economy of the Center for Strategic and International Studies in Washington, DC “The chances of judgments and additional departures are quite high.”

While the Chinese state media quickly announced XI call with Trump last week, the official Beijing spokespersons were clearly silently silent an hour after the comments of Larnick, with the exception of a lower profile mention citing the vice-commerce of the Li trade, saying that the talks have helped to strengthen bilateral confidence.

On Tuesday, local time in London, the United States Secretary of the Treasury, Scott Bessent, told journalists that he had returned to the United States to testify to the Congress.

Chinese Deputy Prime Minister He Lifeng, the main negotiation for trade negotiations with the United States, and Chinese Minister of Trade Wang Wentao also participated in this week’s discussions.

The Chinese CSI 300 index was negotiated slightly more, while US stock contracts were down while investors were waiting for details on the commercial framework.