US and China sign trade agreement, Donald Trump says

US and China sign trade agreement, Donald Trump says

鈥淲e just signed with China the other day,鈥 Mr Trump said late on Thursday.

Mr Lutnick said the deal was 鈥渟igned and sealed鈥 two days earlier.

The president likes to close these deals himself. He’s the dealmaker. We’re going to have deal after deal

It follows initial talks in Geneva in early May that led both sides to postpone massive tariff hikes that were threatening to freeze much trade between the two countries.

Later talks in London set a framework for negotiations and the deal mentioned by Mr Trump appeared to formalise that agreement.

Mr Lutnick said: 鈥淭he president likes to close these deals himself. He鈥檚 the dealmaker. We鈥檙e going to have deal after deal.鈥

China has not confirmed any new agreements, but it announced earlier this week that it was speeding up approvals of exports of rare earths, materials used in high-tech products such as electric vehicles.

Beijing鈥檚 limits on exports of rare earths have been a key point of contention.

The Chinese Commerce Ministry said on Thursday that Beijing was accelerating a review of export licence applications for rare earths and had approved 鈥渁 certain number of compliant applications鈥.

Read More…