US-China will end with Trump’s and XI plan to approve

The United States and China say they in principle agreed to the foundation for de -escalation tensions between the two largest economies in the world.

US Secretary of State for Trade Howard Lutnit said the deal should lead to restrictions on the solution of minerals of rare land and magnets.

Both sides stated that they would now accept the plan of their country’s president – Donald Trump and Xi Jinping – for approval.

The announcement took place after two days of negotiations in London between the top officials from Beijing and Washington.

Chinese exports of rare land minerals, which are crucial for modern technology, were high on the agenda of meetings.

Last month, Washington and Beijing agreed with the temporary truce about trading tariffs, but since then each country has accused another of violating the transaction.

The United States has said China slowly produces exports of metals of rare land and magnets that are needed to make everything from smartphones to electric cars.

Meanwhile, Washington has restricted China’s access to US goods, such as semiconductors and other related technologies related to artificial intelligence (AI).

“We have reached the basics for the implementation of the Geneva consensus,” Lutnik told reporters.

“Once the presidents approve, we will seek to realize it,” he added.

Last week, the new talks took place by phone between Donald Trump and Chinese leader Xi Jinping, which the US president called “a very good conversation.”

“Both sides, in principle, reached the foundations for the implementation of the consensus reached by two heads of state rulers during the telephone call on June 5, and the consensus reached Geneva at the meeting,” said Chinese Vice -Trade, Li Changgang.

When Trump has announced broad imports from a number of countries earlier this year, China was the most difficult. Beijing responded to his own higher US import rates, and this trial sink for Tat increased, which reached a maximum of 145%.

In May, Negotiations held in Switzerland have led to a temporary truce What Trump called “complete discharge”.

This led us tariffs for Chinese products to 30%, while Beijing reduced the US import fee to 10% and promised to raise barriers to critical exports of minerals. This gave both sides of the 90-day term to try to reach the trading transaction.

But since then, the United States and China have stated that violations on unverified promises.

US trade spokesman Jamison Grir said China was unable to disable the rare land export restrictions.

Beijing said the violations of the US agreement included the cessation of sales for computer chips to Chinese companies, preventing the use of chips made by the Chinese technology giant Huawei and the cancellation of visas for Chinese students.

On the eve of the negotiations this week, the Ministry of Commerce of China said that on Saturday it stated that it had approved some applications for rare land licenses, although it did not provide details in which countries were involved.

On Friday, Trump said he had agreed to restart a rare trade.