Two days of trade talks resulted in what leaders called a framework agreement meant to solidify terms of a truce that the superpowers reached in Geneva last month.According to The New York Times, two days of trade talks between the United States and China resulted in a framework agreement that aims to solidify the terms of a truce reached in Geneva last month. President Trump announced on Wednesday that the two countries had struck a deal to roll back some of the punitive measures they had taken against each other’s economies in recent months, including the proposed restrictions on Chinese students attending U.S. universities. The agreement, which followed marathon negotiations in London, will return the countries to the terms of a trade truce they had reached in May after weeks of escalating tensions. The full details of the agreement were not immediately released, but it involves China relaxing its restrictions on shipments of rare earth minerals and magnets needed by U.S. manufacturers. In return, the U.S. will roll back limits on exports of products and technology, including ethane and airplane parts, as well as proposed visa restrictions. Tariffs between the two countries will remain unchanged, with Mr. Trump stating that U.S. tariffs on China will be a total of 55 percent. However, officials did not announce progress on any other trade issues beyond rolling back the tit-for-tat measures taken against each other.
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