President Donald Trump announced that the United States has signed a new trade agreement with China, though he provided no details about the contents of the deal. Speaking late Thursday, Trump said, “We just signed with China the other day,” and added that a trade agreement with India may soon follow, reports AP.
U.S. Commerce Secretary Howard Lutnick confirmed the signing in an interview with Bloomberg TV, stating the deal was “signed and sealed” two days earlier. However, neither Trump nor Lutnick offered further clarification on the scope or terms of the agreement.
China’s Ministry of Commerce acknowledged ongoing cooperation, stating both sides had “further confirmed the details of the framework,” but stopped short of referring to any formal agreement. The ministry’s statement emphasized Beijing’s willingness to process export applications for restricted goods, such as rare earth elements, under legal conditions, while expecting the U.S. to cancel various restrictive trade measures in return.
“It is hoped that the United States and China will meet each other halfway,” the statement read.
The deal reportedly builds on earlier negotiations held in Geneva in May and later in London. Those meetings had already led to a suspension of proposed tariff hikes that had threatened to severely disrupt trade between the world’s two largest economies. Thursday’s comments suggest a formalization of those previous discussions.
A key focus of recent negotiations has been rare earth minerals—critical components in electric vehicles, robotics, wind turbines, and other high-tech equipment. In April, China imposed strict licensing requirements on the export of seven rare earth elements, sparking concerns in Washington and globally. This added tension to an already fragile trade relationship, once dominated by tariff disputes.
The Chinese government said this week it was accelerating the review process for rare earth export applications and had approved “a certain number of compliant applications.” However, China has not officially announced a new agreement with the U.S.
Lutnick emphasized Trump’s direct involvement in closing trade deals: “The president likes to close these deals himself. He’s the dealmaker. We’re going to have deal after deal.”
The backdrop to this latest development is a challenging economic environment in both countries. The U.S. economy shrank at a 0.5% annual rate in the first quarter, in part due to a surge in imports as businesses raced to beat potential tariff hikes. Meanwhile, Chinese factory profits dropped over 9% year-on-year in May, with automakers bearing much of the decline.
While many punitive tariffs remain in effect—including those tied to fentanyl-related trade and metals like aluminum and steel—the administration signals that more trade deals are on the horizon.
“We’re going to have deal after deal after deal,” Lutnick reiterated, hinting at broader ambitions for trade agreements beyond China, including with India.
Bd-pratidin English/ Jisan
