Ministry of Commerce of China in Beijing.
Visual China Group | Getty images
The United States and China have confirmed the details of a commercial framework that seeks to allow rare earth exports and reduce technological restrictions, according to a statement published by the Ministry of Commerce of China on Friday afternoon.
China will review and approve the export applications for articles subject to export control rules, while the US will correspond corresponding to a range of existing restrictive measures imposed against Beijing, said a spokesman for the ministry in the statement, without elaborating.
The statement occurs after the president of the United States, Donald Trump, said Thursday at an event at the White House that “yesterday we signed with China yesterday.” A White House official then clarified that the Administration and China had agreed “an additional understanding of an framework to implement the Geneva Agreement.”
Earlier this month, the commercial negotiation teams of both parties, led by the Secretary of the United States Treasury, Scott Besent and the Chinese vice president, He Lifleng, reached an agreement on the implementation of the Geneva consensus after two days of high -level conversations in London.
The United States Secretary of the United States, Scott Besent and Chinese vice president, the LIFENG meets in London, Great Britain, on June 9, 2025.
United States Treasury | Through Reuters
The London agreement stabilized what had become a tense relationship, with Washington blaming China for walking slowly for relaxing the rare rare and Beijing criticizing the technological restrictions of the United States and the revocation of the student’s visa.
While China’s last statement is “encouraging”, it is important to moderate expectations, said Alfredo Montufar-Helu, main advisor to the Chinese center in Think Tank the Conference Board, pointing out the lack of details on which the export edges of rare earth, apart from the magnets, are relaxed.
As both parties see rare earths as “a crucial negotiation chip in future negotiations”, the trade of these goods will probably remain limited, Montufar-Helu added.
After the initial commercial meeting in Geneva in mid -May, Washington and Beijing had reached a preliminary agreement to suspend most tariffs on the goods of others for 90 days and to retreat certain restrictive measures.
