| | | A "framework"? Who they kidding. That means NO DEAL and the mkts saw through it immediately. Let's see if the PPT shovels in a few billion to put lipstick on the pig, tomorrow.
<U.S., China agree on ‘framework’ to implement trade deal after two days of talks in London
By
Mike Murphy
Last Updated: June 10, 2025 at 9:24?p.m. ET
First Published: June 10, 2025 at 8:54?p.m. ET
U.S. Secretary of the Treasury Scott Bessent, left, and U.S. Commerce Secretary Howard Lutnick listen in the Oval Office on May 30.Photo: Getty Images
After months of rising tensions, U.S. and Chinese negotiators have agreed on a “framework” to implement agreements that have been reached on trade, officials said late Tuesday.
Following two days of high-level talks in London, U.S. Commerce Secretary Howard Lutnick told reporters that “We have reached a framework to implement the Geneva consensus,” referring to previous negotiations last month in Switzerland, in which both countries agreed to a 90-day pause on the harshest tariffs against each other’s imports.
According to Reuters, China’s Vice Commerce Minister Li Chenggang also told reporters that “The two sides have, in principle, reached a framework for implementing the consensus” reached in Geneva, as well as in a conversation last week between President Donald Trump and China’s President Xi Jinping.
Lutnick told reporters that the framework will be implemented if it’s approved by both Trump and Xi.
Details of the framework were not immediately available, but Lutnick said it should resolve issues concerning rare earth minerals.
The U.S. and China had accused each other of violating the Geneva agreement settled on in May, raising fears that the deal could fall apart.
Earlier Tuesday, Lutnick had told reporters that the talks were “going really, really well.” Treasury Secretary Scott Bessent left the talks earlier in the day in order to testify before Congress on Wednesday.
Investors have been awaiting news from the talks, in hopes that a deal would end the tariff-hiking brinksmanship of recent months. But the announcement did little to immediately boost U.S. stock futures, with Dow Jones Industrial Average futures>
marketwatch.com |
|
