U.S. and China agree on trade framework including suspension of tariffs and rollback of measures.

From CNBC: 2025-06-11 10:15:00

The U.S. and China have agreed on a trade framework after high-level talks in London, awaiting approval from Presidents Trump and Xi. The deal includes a 90-day suspension of tariffs and rollback of some measures. Details are still being worked out to de-escalate tensions and continue dialogue.

Chinese restrictions on rare earth exports to the U.S. are a key part of the agreement, with both sides using leverage over each other. The deal hinges on resolving this issue and rolling back U.S. restrictions on tech sales to China. Analysts warn of potential setbacks in the future.

State media in China initially remained silent after U.S. officials announced the trade agreement, later mentioning talks had built trust. Treasury Secretary Scott Bessent returned to testify before Congress, while Chinese officials He Lifeng and Wang Wentao were involved. Markets awaited details on the deal framework.

Read more: U.S.-China agree on framework to implement Geneva trade consensus