Yeliz Akmaca 
U.S. President Donald Trump announced significant progress in trade talks with China. Today (June 11, 2025), U.S. Secretary of Commerce Howard Lutnick stated, following two days of negotiations held in London, that the parties had agreed on a “framework agreement” under the “Geneva Memorandum.”
U.S. Trade Representative Jamieson Greer emphasized the speed of the process, saying, “It’s important to understand how quickly we were able to reach an agreement.” However, the details of the agreement have not yet been disclosed to the public, which continues to raise some questions.
The agreement foresees both countries mutually reducing tariffs for a period of 90 days. It also includes regulations concerning strategic resources. Notably, China plans to ease restrictions on the export of rare earth elements.
Trump stated that the agreement with China awaits Xi’s approval and that China will supply rare earth elements. The U.S. will meet the agreed conditions, including student access, and tariffs will be set at 55% for the U.S. and 10% for China. The agreement will be submitted for final approval by President Trump and Chinese President Xi Jinping.
“One of the things I think could be the most exciting for both us and China is that we are trying to open up China to business,” Trump said. “We opened up the U.S. years ago—now it’s China’s turn. That’s an important part of our deal, and we will open up China.”
However, some analysts point to China’s dominance in rare earth elements, noting that this gives China a strategic advantage over the U.S. They also argue that this could place significant long-term pressure on the U.S. technology and defense industries.
Lastly, this agreement does not mean the trade wars are completely over. Still, it is seen as an important step toward reducing tensions between the two countries and restructuring economic relations.
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