China and United States Reach Tariff Agreement

US-China Trade Truce Signed

Donald Trump said on Thursday the US and China had signed a trade deal two weeks after saying they had reached an understanding in London about how to implement a ceasefire in the countries’ dispute.

“We just signed with China yesterday,” the president said at the White House on Thursday, without providing any details.

A White House official said the US and China had “agreed to an additional understanding for a framework to implement the Geneva agreement”, in a reference to the trade talks that the nations held in May, when they first negotiated a truce.

Two people familiar with the situation said on Thursday that Washington and Beijing appeared to have put in writing what had previously been negotiated but not included in a formal document.

The agreement in Geneva involved significantly reducing tariffs on each other for 90 days while they tried to hammer out a comprehensive trade accord. The deal had faltered, however, over disagreements about Chinese rare earth exports and US export controls.

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