Beijing officially speaks out about US-China trade deal

(Dan Tri) - A spokesman for the Chinese Ministry of Commerce said Beijing will consider granting export licenses for controlled goods, in return for the US lifting many previous restrictions.

On the afternoon of June 27, a spokesperson for the Chinese Ministry of Commerce said that China will review and approve export applications for items on the export control list. Meanwhile, the US will proceed to cancel a series of restrictions currently imposed on China.

The statement came after US President Donald Trump said the two sides had signed a trade agreement. However, the specific details of the agreement have not been disclosed.

Chinese President Xi Jinping and US President Donald Trump (Photo: AFP).

A White House official said the United States and China have agreed on several additional points in the framework of the agreement to implement the contents reached at the Geneva talks in May.

The US and China agreed to sharply reduce import tariffs as part of negotiations in Geneva in May, but progress has stalled over disagreements over China’s rare earth exports and US export controls.

Earlier this month, the US and Chinese negotiators met again in London. After two days, the two sides announced that they had reached a framework agreement on trade to implement what was agreed upon in the phone call between the two leaders on June 5 and in the previous meeting in Geneva.

So far, the US has only reached an agreement with the UK. The Trump administration is accelerating negotiations with other trade partners ahead of the July 9 deadline.

Without a deal, economies could be hit with import tariffs of up to 50%. In addition to imposing tariffs on imported cars, aluminum and steel, the Trump administration is also considering additional sectors such as semiconductors, consumer electronics, aerospace components, lumber, copper, pharmaceuticals and critical minerals.

Source: https://dantri.com.vn/kinh-doanh/bac-kinh-chinh-thuc-len-tieng-ve-thoa-thuan-thuong-mai-my-trung-20250627153402431.htm