US and China reach framework for trade deal during London negotiations

The United States and China reached a framework for a looming trade deal on Tuesday, which comes on the second day of negotiations in London.

China's trade negotiator told reporters that the two leaders “have agreed in principle on the framework for implementing the consensus reached by the two heads of state during their phone talks on June 5 and at Geneva talks last month," per CNN.

The United States' delegation for the trade agreement includes Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and Trade Representative Jamieson Greer. China’s trade negotiator Li Chenggang represents China.

Lutnick told reporters in a separate briefing that both sides will take the framework back to their respective leaders for approval before implementing it. 

The delegations did not release a lot of information on the agreement, but Lutnick said China’s restrictions on exports of rare earth minerals will be fixed as a “fundamental” part of the agreement, Reuters reported.

“Also, there were a number of measures the United States of America put on when those rare earths were not coming,” Lutnick said. “You should expect those to come off, sort of as President Trump said, in a balanced way.”

Misty Severi is a news reporter for Just The News. You can follow her on X for more coverage.