The United States and China have agreed on the framework for a trade deal, although details on the agreement have not been provided, reported The Associated Press.
The news agency said it was unclear if this new deal differs from the one President Trump announced two weeks ago that he said would make it easier for American companies to obtain much-needed rare earth minerals. That pact cleared the way for the trade talks to continue, while the U.S. agreed to stop trying to revoke visas of Chinese nationals on U.S. college campuses.
China’s Commerce Ministry said on June 27 that the two sides had “further confirmed the details of the framework.” But its statement did not explicitly mention U.S. access to rare earths.
“China will approve the export applications of controlled items that meet the conditions in accordance with the law. The United States will cancel a series of restrictive measures taken against China accordingly. It is hoped that the United States and China will meet each other halfway,” it said.
The Associated Press said China had recently said it was accelerating review of export license applications for rare earths and had approved “a certain number of compliant applications.”
Source: AP