Name: U.S. and China Agree to Get Trade Pact Back on Track
Uploaded: 2025-06-11T00:58:00Z
Duration: 1 min 27 s
Description: Commerce Secretary Howard Lutnick said the two countries will take the deal back to President Trump and Chinese President Xi Jinping for final approval.

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Commerce Secretary Howard Lutnick said the two countries will take the deal back to President Trump and Chinese President Xi Jinping for final approval. Photo: Chris J. Ratcliffe/Bloomberg News ; Toby Melville/Reuters

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Commerce Secretary Howard Lutnick said the two countries will take the deal back to President Trump and Chinese President Xi Jinping for final approval.

U.S. and China Agree to Get Trade Pact Back on Track

We have reached a framework to implement the Geneva consensus and the call between the two presidents, right? So that was on June 5th. So we've combined those two. We've reached a framework for implementation. So the idea is we are going to go back and speak to President Trump and make sure he approves it. They're gonna go back and speak to President Xi and make sure he approves it. And if that is approved, we will then implement the framework that we have worked hard over these last two days. Obviously, the team stayed at it until it was done late into the evening. Absolutely expect that the topic of rare earth minerals and magnets with respect to the United States of America will be resolved in this framework of implementation. That is a fundamental part of that. Also, there were a number of measures the United States of America put on when those rare earths were not coming. You should expect those to come off, sort of as President Trump said, in a balanced way. When they approve the licenses, then you should expect that our export implementation will come down as well.

U.S. and China Agree to Get Trade Pact Back on Track

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