After two days of negotiations in London, the United States and China have announced what appears to be a recycled version of their previous trade agreement from last month’s Geneva talks. This is similar to the “total reset” approach when both countries slashed tariffs under a surprise 90-day deal. The framework, which still requires approval from both President Donald Trump and Chinese leader Xi Jinping, reveals significant compromises from the U.S. side while gaining minimal new concessions from China.
The talks, led by Commerce Secretary Howard Lutnick and U.S. Trade Representative Jamieson Greer, focused on de-escalating tensions between the world’s two largest economies. The agreement primarily involves the U.S. offering concessions on sensitive technology exports and Chinese student visas, while China simply reaffirmed its previous commitment to lift restrictions on critical minerals.
