Trade war

Trump: reached trade agreement with China. Beijing: some restrictions cancelled

Commerce Secretary Howard Lutnick also stated that the agreement was signed earlier this week. Neither Lutnick nor Trump provided details.

27 June 2025

Il presidente Usa Donald Trump. REUTERS/Nathan Howard

2' min read

The United States and China have signed a trade agreement. This was stated by President Donald Trump, adding that he expects to reach a agreement with India soon. Commerce Secretary Howard Lutnick told Bloomberg TV that the agreement was signed earlier this week. Neither Lutnick nor Trump provided details on the agreement.

"We signed with China just the other day," Trump said on Thursday evening, US time. Lutnick added that the agreement had been 'signed and sealed' two days earlier.

The understanding has also been confirmed by Beijing: the US will 'lift a number of restrictive measures' on Chinese trade, says the Chinese Trade Ministry in a note. China says it has "confirmed details of the understanding with the US" . "It is hoped that the US and China will meet in the middle," a spokesman for the Ministry of Commerce in Beijing said in a note, hoping for "a healthy, stable and sustainable development of economic and trade relations between China and the US."

The agreement follows initial talks in Geneva in early May, which had led both sides to postpone massive tariff increases that threatened to freeze much of the trade between the two countries. Subsequent talks in London had set the framework for negotiations and the agreement mentioned by Trump seemed to formalise it.

"The president likes to make these deals himself. He makes the deals. We will have one deal after another," Lutnick added.

Beijing: less constraints on rare earth exports

China earlier this week announced it was speeding up permits for exports of rare earths, materials used in high-tech products such as electric vehicles. Beijing's limits on rare earth exports have been a key point of contention. The Chinese Ministry of Commerce said on Thursday that Beijing was accelerating its review of export licence applications for rare earths and had approved "a number of compliant applications".

Dazi Usa, Meloni: "Il 10% non sarebbe troppo impattante"

Mineral export controls have apparently eclipsed tariffs in the latest round of trade negotiations between Beijing and Washington, after China imposed licensing requirements for seven rare earth elements in April - a threat that threatens to disrupt the production of cars, robots, wind turbines and other high-tech products in the US and around the world.

The agreement reached in May in Geneva called for both sides to reduce punitive tariff increases imposed as a result of Trump's escalating trade war and sharp increase in import tariffs. However, some higher tariffs, such as those imposed by Washington related to fentanyl trade and duties on aluminium and steel, remain in place.

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