US signs trade agreement with China

US President Donald Trump 

US President Donald Trump said that Washington and Beijing reached a trade deal two weeks after reaching the London framework on how to end the trade dispute between the two countries.

Speaking at the White House yesterday, June 26, Trump said: “We signed with China yesterday,” without providing any further details, according to the Financial Times.

A White House official clarified that the US and China had agreed to an additional understanding to a framework that allows the implementation of what was agreed upon in Geneva last May.

In Geneva, both sides had agreed to reduce tariffs on each other’s imports for 90 days, and to begin talks for a comprehensive trade deal. However, the agreement stalled due to disagreements over Chinese rare earth metal exports and U.S. export controls.