The US and China soothe the dispute. There is a trade agreement plan

– The two largest economies of the world reached an agreement on the framework of the contract. We will start implementing this framework after the approved by President Trump, and the Chinese will go for approval to their president XI and the trial will rely on – told journalists Lutnick after the end of two -day talks in London with a delegation with a delegation with China.

Lutnick did not reveal many details of the findings except that the plan assumes the implementation of those provisions, which were already established during the first meeting of the delegation in Geneva, after which both sides reduced mutual duties, and China was to relax restrictions on the export of key metals of rare lands and magnets used, among others in the arms and automotive industry.

Trump's administration accused Beijing of not complying with these findings, which hit American companies. However, the politician stated that after the approval of the new “frames” by the leaders of the power, the case should be resolved.

At the same time he suggested that USA They cancel some of their own decisions in response to Chinese restrictions. But it is not clear yet whether – as the “Wall Street Journal” reported earlier – this means that the US has agreed to relax the limits of export technology.

“WSJ” gave on Tuesday, citing the initiated people that the Chinese conducted “hard negotiations, asking the American side to significantly alleviate the restrictions on the sale of technologies and other products to China.”

The negotiations were the result of a telephone conversation between Trump and XI Jinping from last week, which the US president described as “very good”.

At the beginning of the year, Trump introduced high duties on imports from many countries, with China as the main goal. Beijing answered with his own tariffs to American goods, which led to the escalation of the dispute, in which even 145 percent reached.

In May, conversations in Switzerland They brought a temporary agreement, which Trump called “a complete reset”. It reduced American duties to Chinese products to 30 percent, and China reduced tariffs to goods from the US to 10 percent. and promised to alleviate the limitations in the export of key minerals. Both sides had 90 days to reach a lasting agreement.

However, since then, the US and China have accused each other of breaking the findings. The American commercial representative Jamieson Greer said that China did not endure restrictions in the export of rare lands. In turn, Beijing accused the US of violations, such as suspending the sale of chip design software, warning against the use of the Chinese company Huawei or canceling visas for Chinese students.

Before talking in London, the Chinese Ministry of Trade announced on Saturday that it approved some applications for licenses for exporting rare metals, although it did not state which countries are beneficiaries. Trump, in turn, announced on Friday that XI agreed to resume trading with these materials.