China Confirms Trade Deal Framework With U.S. Must Abide By Chinese Law

China has confirmed the details of a trade deal framework with the U.S., stating that Washington would lift “restrictive measures” while Beijing would “review and approve” items under export controls, Agence France-Presse (AFP) reported.

China processes 90% of the world’s rare earth minerals, making the U.S. heavily reliant on China for these strategic materials.

A White House official also told AFP on Thursday that President Donald Trump’s administration and China had “agreed to an additional understanding for a framework to implement the Geneva agreement.”

That clarification came after Trump claimed during an event that Washington had “just signed” a trade-related deal with China, without offering further details.

China processes 90% of the world’s rare earth minerals, making the U.S. heavily reliant on China for these strategic materials. Beijing confirmed on Friday that an agreement had been reached.

“It is hoped that the U.S. and China will meet each other halfway,” a spokesperson for China’s Ministry of Commerce said in a statement. The statement added that both sides had “further confirmed the details of the framework.”

Under the deal, China “will review and approve applications for the export control items that meet the requirements in accordance with the law.” In return, “the U.S. side will correspondingly cancel a series of restrictive measures against China.”