U.S., China Agree on Trade Framework

The United States and China have confirmed a trade framework aimed at easing tensions over rare earth exports and technology restrictions. China’s Ministry of Commerce said it will review export applications for controlled items, while the U.S. will lift some of its restrictive measures on Beijing. The agreement follows high-level meetings in London earlier this month and builds on a preliminary deal reached in Geneva in May. Although the move signals progress in trade relations, experts caution that significant limitations remain. The framework lacks detail on which rare earth curbs will be eased, with magnets being the only confirmed item so far.