Bloomberg: New U.S. Trade Agreement With China Has "white Spots"
- 27.06.2025, 8:48
- 2,874
The U.S. Secretary of Commerce revealed the details.
United States Commerce Secretary Howard Lutnick revealed the contents of a trade agreement signed between Washington and Beijing that President Donald Trump had mentioned the day before.
This was reported by Bloomberg.
In a speech at the White House on Thursday, Trump hinted that the U.S. had allegedly signed a trade agreement with China, but did not reveal its contents.
U.S. Commerce Secretary Howard Lutnick said the agreement was signed two days ago and formalizes agreements between Beijing and Washington that were reached at talks in Geneva and London.
In particular, the document stipulates that China resumes supplying rare earth metals to the United States needed to make wind turbines, jet engines and other technological products.
In return, the United States is prepared to lift earlier restrictions on exports to China of ethane, microchip software and jet engine components.
"They have to start supplying us with rare earth elements. And once they do, we will lift our countermeasures," Lutnick said.
The minister added that Trump is ready to give final approval to a number of trade agreements in the next two weeks - until July 9.
This is expected to happen during the next round of talks in London in early July and subject to approval from President Trump and Chinese President Si Jinping.
At the same time, as Bloomberg noted, the agreement with China described by Latnick is not a comprehensive trade deal and does not cover complex issues such as fentanyl trafficking or expanding U.S. exporters' access to the Chinese market.
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