Europe / North America / East Asia

U.S. and China agreed on a preliminary trade framework

Following two days of trade talks in London, the U.S. and China agreed on a framework for a longer-term detente in their trade war that would extend the temporary reciprocal tariff reprieve agreed last month.

Following two days of talks in London, the parties established a framework extending their temporary tariff reprieve. It may address Chinese rare-earth export controls and now requires approval from Trump and Xi, while its treatment of U.S. non-tariff measures remains unclear.