U.S. and China Reach Tentative Trade Deal, But Details Are Murky

TaiwanPlus News

The United States and China say they have reached a new framework to ease their ongoing trade war. U.S. President Donald Trump says the deal includes provisions for rare earth exports and university access for Chinese students, but many details remain unclear.

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00:00U.S. President Donald Trump says his administration has reached a deal with China

00:05that could ease the trade war between the world's two largest economies.

00:09We made a great deal with China. We're very happy with it.

00:13We have everything we need, and we're going to do very well with it, and hopefully they are too.

00:21The comments follow talks between the two sides in London,

00:24ending with what's described as a new framework for a tariff truce agreed to last month in Geneva.

00:42But details of the deal are murky.

00:45Trump saying in a post, magnets and rare earths will be supplied up front by China,

00:50while Chinese citizens will be able to, quote, use American universities.

00:57But how long will it last?

01:01The Wall Street Journal reporting that Beijing's easing of critical rare earth exports is limited to just six months.

01:10In the meantime, the U.S. will restore exports of key items like jet engines to China.

01:15While much of the deal remains under wraps, U.S. Treasury Secretary and negotiator Scott Besant,

01:22now back from London, warned China to play ball.

01:25But the country needs to be a reliable partner in trade negotiations.

01:30If China will course correct by upholding its end of the initial trade agreement we outlined in Geneva,

01:37and I believe after our talks in London they will,

01:41then the rebalancing of the world's two largest economies is possible.

01:48With more than $600 billion U.S. dollars worth of trade on the line,

01:52the stakes for the two economic giants and for the world are high.

01:57Patrick Chun and Chris Gorin for Taiwan Plus.

01:59Patrick Chun and Chris Gorin for Taiwan Plus.

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