The United States and China have achieved a preliminary agreement on the aim to alleviate trade on the basis of a consensus set out during the Geneva interviews, according to negotiators from both countries, Bloomberg reported.
“We have reached the framework for implementing Geneva consensus,” said US Trade Minister Howard Lutnick to journalists in London.
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This comes after almost 20 hours of interviews that took place for two days at the Georgian headquarters near the Buckingham Palace, the main Chinese business negotiator Li Chenggang said that both US and Chinese delegations will now introduce the proposed framework to further consideration.
“As soon as the presidents approve it, then we will try to implement it,” Lutnick added.
In addition, US sales representatives Jamieson Greer said there were no other meetings planned, but added that the US and Chinese parties often speak and are able to do so whenever they need it, according to Bloomberg report.
After nearly 20 hours of interviews held for two days at the Georgian headquarters near the Buckingham Palace, the Chinese main business negotiator Li Chenggang said the US and Chinese delegations will now present the proposed framework for further consideration.
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US Ministry of Finance, Scott Bessnt, previously called “productive” commercial interviews, although she left London before the negotiations for planning conflicts. According to an American official talking to AFP, Bessnt returned to Washington to testify before the congress.
The US delegation was led by Bessnt with Lutnice and Greer, while the Chinese side was headed by the Deputy Prime Minister Lifengeng, joined the main negotiator Li Chenggang and the Minister of Trade Wang Weao.
This time, the key problem of the program negotiations this time was the Chinese export of rare soil minerals – used in a number of things including smartphones, batteries with electric vehicles and green technologies.
“In Geneva, we agreed to reduce the tariffs and agreed to release magnets and rare countries that we need throughout the economy,” said the highest economic advisor to US President Donald Trump Kevin Hassett on Monday.
(With the entry from agencies)
(Tagstotranslate) Tens of business tension in the US and China
