After months of global turmoil as the world’s two largest economies squared off over reciprocal tariffs, the two sides “made new progress in resolving each other’s economic and trade concerns”, state broadcaster CCTV reported.
“As a next step, the two sides should... continuously enhance consensus, reduce misunderstandings and strengthen cooperation,“ vice premier He Lifeng said, according to state broadcaster CCTV.
US Commerce Secretary Howard Lutnick expressed optimism after a full day of negotiations that concerns surrounding rare earth minerals and magnets “will be resolved” eventually, as the deal is implemented.
In its readout of the talks released Wednesday, Beijing’s state media said the Chinese side “reiterated that the two sides should meet each other halfway, keep promises and fulfil actions”.
They “reached a consensus in principle on the framework of measures to implement the important consensus reached by the two heads of state in their June 5 phone call”, the broadcaster added, referring to recent talks between leaders Xi Jinping and Donald Trump.
This time, China’s exports of rare earth minerals -- used in a range of things including smartphones, electric vehicle batteries and green technology -- were a key issue on the agenda, with Washington accusing Beijing of dragging its feet on approving exports.
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