China confirmed its dedication to the new trade agreement with the U.S. by asking both parties to maintain their agreement after Presidents Xi Jinping and Donald Trump spoke by phone to resolve the prolonged trade dispute.
Foreign ministry spokesperson Lin Jian declared on Thursday that China maintains its promises by producing tangible outcomes. The United States and China resumed their trade negotiations in London to complete the revised trade agreement that originated in Geneva.
The agreement provides China with permission to relax export restrictions on rare earth minerals and enables U.S. universities to readmit Chinese students. President Trump announced on Truth Social that China would fulfill its commitment to deliver all agreed magnets and rare earths while the U.S. would restore educational and economic exchanges.
The lack of specific details about the implementation process continues to exist. A White House official explained that China’s 55% tariff rate consists of both current and new trade-related levies.
The Chinese government has issued export licenses to JL MAG and other rare earth companies. The number of additional export licenses remains unclear while China faces ongoing tensions which may affect its ability to maintain flexibility.
