Beijing officially speaks out about the US-China trade deal

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

On the afternoon of June 27, a spokesman for the Chinese Ministry of Commerce said that the country will review and approve export applications for items on the export control list. Meanwhile, the US will proceed to cancel a series of restrictive measures 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 negotiations in Geneva in May.

According to the results of negotiations in Geneva in May, the US and China will jointly reduce import tariffs to create a premise for negotiating a comprehensive trade agreement. However, this process later fell into a deadlock due to disagreements related to China's rare earth exports and export control measures from the US.

Earlier this month, the US and Chinese negotiating teams continued to meet 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 meeting in Geneva before that.

So far, the US has only reached an agreement with the UK. The Trump administration is accelerating negotiations with other trade partners before 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, timber, 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