U.S. President Donald Trump announced on June 26 (local time) that he had signed a trade agreement with China the previous day.
President Trump made this statement at an event held at the White House in Washington, DC, aimed at promoting the so-called "one big beautiful bill" to implement his key campaign pledges, including tax cuts. He said, "We just signed with China yesterday."
Although he did not specify the details of the agreement with China, it is highly likely that the agreement he signed includes the results of the first round of negotiations held in Geneva last month and the second round of high-level U.S.-China trade talks held in London on June 9-10.
During the London talks, the United States and China agreed to lift China's export controls on rare earths to the U.S., to allow Chinese students to stay in the U.S., and to ease U.S. export controls on advanced semiconductors and related technologies to China.
President Trump stated, "We are pursuing some enormous agreements," and added, "With the upcoming agreements, we will probably reach a very large deal to open up India and the Indian market."
President Trump is currently engaged in trade negotiations with countries around the world ahead of the expiration of the mutual tariff suspension deadline on July 8.
Meanwhile, at a briefing on the same day, White House spokesperson Caroline Leavitt was asked about the possibility of extending the mutual tariff suspension deadline. She responded, "The deadline is not important," and added, "It could possibly be extended. However, that is a decision for the President to make."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
