Representatives of the US and China have agreed on a plan to implement agreements to partially remove restrictions on bilateral trade and ensure supplies of rare earth metals from China at talks in London.
This was announced to journalists by US Secretary of Commerce Howard Lutnick.
“We have reached a framework agreement for the implementation of the Geneva Consensus“, he said, referring to the agreements to partially reduce mutual tariffs reached in Geneva on May 10-11.
According to Lutnick, the plan agreed by the parties will be submitted for approval to US President Donald Trump and Chinese President Xi Jinping. “We will begin to implement these framework agreements after approval by President Trump and the Chinese President“, the minister added. "We certainly expect that the issue of rare earth metals and magnets in relation to their supplies to the United States will be resolved through the framework implementation of the agreements," Lutnik stressed. A recording of his speech in London was published by American media.
The American delegation also included Treasury Secretary Scott Besant and Trade Representative Jamieson Greer. The Chinese side was represented by Vice Premier He Lifeng.
The head of the White House National Economic Council, Kevin Hassett, announced on June 8 his intention to force China to increase its supplies of rare earth metals. On June 5, the Chinese President and the US President had a telephone conversation. They agreed to hold a new round of trade and economic negotiations as soon as possible.