China, US agree on framework for trade deal following London talks

China and the US have reached an agreement on a framework for implementing trade arrangements following two days of negotiations in London, Chinese trade representative Li Chengang announced on June 11.

The talks, described by Chinese state media as “professional, candid and constructive,” build on agreements made by the leaders of both nations during a recent phone call and the initial discussions held in Geneva, Caliber.Az reports per Chinese media.

Howard Latnick, US Secretary of Commerce and a member of the American delegation, told reporters that both sides would now report the outcomes to their respective governments.

He added that, pending approval from top leadership, a formal framework programme would be established to guide future trade relations.

A key focus of the framework is addressing China’s export restrictions on rare earth metals to the US — a vital issue given the metals’ critical role in various high-tech and defence industries.

The recent Geneva talks were marked by mutual recriminations over several sensitive topics, including US restrictions on advanced semiconductor supplies to China, visa issuance for Chinese students in the United States, and China’s controls on rare earth metal exports.

Following the London negotiations, US President Donald Trump confirmed that Chinese President Xi Jinping had agreed to resume exports of rare earth metals to the US.

However, China’s Ministry of Commerce emphasised that products involving rare earth metals have both military and civilian applications, and are subject to export controls designed to safeguard national security.

“China enforces export controls on rare earth-related products in accordance with the law, aiming to protect national security and interests more effectively,” the ministry said in a statement.

It added that China has already approved a number of export applications, continues to consider global concerns, and intends to maintain this approach moving forward.

By Aghakazim Guliyev