The United States has reached an agreement with China on accelerating shipments of rare earth minerals to the US, amid efforts to end a trade war between the world’s two biggest economies.
US President Donald Trump said on Thursday that the US had signed a deal with China the previous day, without providing more details, adding that he expects to soon have a trade deal with India as well.
Thursday’s announcement follows talks in Geneva in May, which led the US and China to reduce mutual tariffs.
In June, talks in London set a framework for negotiations. Thursday’s announcement appeared to formalise that agreement.
“The [Trump] administration and China agreed to an additional understanding for a framework to implement the Geneva agreement,” a White House official said on Thursday.
China also confirmed the framework for a deal, with its Ministry of Commerce stating that it will review and approve applications for items subject to export control rules.
London talks
US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng pose for a photo with US Trade Representative Jamieson Greer, US Secretary of Commerce Howard Lutnick, Chinese Commerce Minister Wang Wentao, and China’s International Trade Representative and Vice Minister of Commerce Li Chenggang, in London, on June 9, 2025 [United States Treasury/Handout via Reuters]
What do we know about the US-China deal?
During US-China trade talks in Geneva, Beijing committed to removing non-tariff countermeasures imposed against the US following Donald Trump’s “Liberation Day” announcement on April 2.
