China officially confirmed on Friday the details of a trade agreement with the United States, stating that Washington will lift certain “restrictive measures,” while Beijing will “review and approve” exports subject to control regulations.
“We hope both nations will continue to work toward mutual understanding,” a spokesperson for China’s Ministry of Commerce said in a statement. The confirmation follows the White House’s announcement on Thursday that both parties had reached consensus on several issues, including the acceleration of rare earth exports to the US.
The agreement follows initial talks in Geneva this May, during which both countries agreed to reduce some of the reciprocal tariffs imposed on each other’s goods. China also pledged to relax certain non-tariff measures. However, US officials later accused China of failing to comply with the terms, particularly by delaying export license approvals for rare earth materials.
Further discussions in London this month led to a new framework for implementing the earlier Geneva consensus. A White House official told AFP that the Trump administration and Chinese representatives had reached an additional understanding to operationalize the agreement.
“Since the London talks, both teams have remained in close contact,” the commerce ministry added. “With the necessary approvals, both sides have recently reaffirmed the framework’s details. China will assess and approve applications for export-controlled items according to legal standards, and the United States will in turn cancel a series of restrictive measures targeting China.”
