By Daniel Flatley and Annmarie Hordern
The US and China de-escalated trade tensions, agreeing to a preliminary deal on how to implement the consensus the two sides reached in Geneva, negotiators for both sides said.
While the full details of their accord weren’t immediately available, US negotiators said they “absolutely expect” that issues around shipments of rare earth minerals and magnets will be resolved with the framework implementation.
“We have reached a framework to implement the Geneva consensus,” US Commerce Secretary Howard Lutnick told reporters in London.
The US and Chinese delegations will now take the proposal back to their respective leaders, said China’s chief trade negotiator Li Chenggang, after two days of discussions that spanned nearly 20 hours in a Georgian-era mansion near Buckingham Palace.
Earlier: China and US Holding Second Day of Trade Talks in London
“Once the presidents approve it, we will then seek to implement it,” Lutnick added.
US Trade Representative Jamieson Greer said there were no other meetings scheduled, but added that the American and Chinese sides talk frequently and are able to do so whenever they need.
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