Commerce Secretary Howard Lutnick announced that the U.S. and China have formally signed a trade agreement resulting from recent talks in Geneva. The deal includes a commitment from China to resume the export of rare earth materials critical to industries like aerospace and clean energy. In return, the U.S. will lift certain countermeasures once deliveries begin. The understanding, which follows months of delayed negotiations and previous disputes, has helped boost global markets and set the stage for further trade discussions.
“We’re going to do top 10 deals, put them in the right category, and then these other countries will fit behind,” Secretary Lutnick said.
President Trump is expected to move forward with up to ten additional trade deals by July 9, potentially including agreements with countries like India and Japan.
Negotiators from the U.S. and China previously accused each other of violating earlier agreements, but the current pact includes provisions for economic cooperation while leaving broader issues, such as fentanyl trafficking and full market access, unresolved.
As the Lord Leads, Pray with Us…
- For discernment for Secretary Lutnick as he heads the Commerce Department.
- For President Trump and his trade team as they continue negotiations with international partners.
Sources: MSN, Bloomberg, Townhall
