U.S., China Reach Trade Framework Deal in London Talks

TaiwanPlus News

After two days of intense trade negotiations in London, Chinese officials and members of the U.S. Trump administration have agreed on a trade framework that they will now take back to their respective leaders for approval. After the talks, U.S. Commerce Secretary Howard Lutnick expects a resolution on rare earth minerals to be reached.

Transcript

00:00Chinese and U.S. officials say they have agreed on a trade framework following talks in London.

00:06U.S. Commerce Secretary Howard Lutnick says the deal would include a resolution on rare earth minerals.

00:13We do absolutely expect that the topic of rare earth minerals and magnets with respect to the United States of America

00:21will be resolved in this framework implementation. That is a fundamental part of that.

00:29China currently dominates the global market for those minerals, which are used in everything from consumer tech products to advanced weapons.

00:37Talks between the two countries stalled last month in Geneva over disagreements about rare earths and U.S. chip export controls.

00:45Both sides say they will now take the draft deal back to their leaders.

Category

Transcript

Recommended