US, China agree to ease trade curbs

KABUL (Pajhwok): US and Chinese officials have reached an agreement on a framework aimed at reviving their trade truce and easing export restrictions on China, according to media reports.

Following two days of negotiations in London, US Commerce Secretary Howard Lutnick told reporters that the new framework adds “meat on the bones” of a deal initially reached last month in Geneva to roll back punitive tariffs that had soared into triple digits, Reuters reported.

However, the Geneva agreement had stalled due to China’s ongoing restrictions on exports of critical minerals. In response, the Trump administration imposed its own export controls, blocking shipments of semiconductor design software, aircraft, and other high-tech goods to China.

“We have reached a framework to implement the Geneva consensus and the call between the two presidents,” Lutnick said.

“The idea is we’ll go back and brief President Trump for his approval. They’ll do the same with President Xi. If both approve, we will implement the framework.”

In a separate statement, China’s Vice Commerce Minister Li Chenggang confirmed that a framework agreement had been reached in principle and would be submitted to both countries’ leaders for final approval.

While the deal may prevent the Geneva agreement from collapsing amid tit-for-tat export controls, it does little to resolve broader tensions over Trump’s unilateral tariffs and US concerns about China’s state-led, export-driven economic policies.

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