United States President Donald Trump stated that the US and China have signed a trade agreement, but details about the terms and specifics of the deal have not been released.
Trump said he expects an agreement with India to be reached soon as well, AP reported.
US Secretary of Commerce, Howard Lutnick, confirmed that the agreement with China was signed earlier this week, adding that the deal was “signed and sealed.”
Lutnick told Bloomberg TV that the agreement was concluded two days before Trump’s statement.
This agreement comes after initial negotiations in Geneva in early May, when both sides reached an agreement to postpone significant tariff increases that could have led to a freeze in trade ties between the two countries.
“The President likes to make these kinds of deals personally. He is the one who signs the agreements. We will have more agreements,” Lutnick said.
Although China has not announced any new agreements, the Chinese Ministry of Commerce yesterday stated that it is accelerating the approval of exports of rare earth elements, which are crucial for the production of high-tech devices, such as electric vehicles.
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Source: Agencije; Photo: EPA-EFE / Roman Pilipey