China and the United States have successfully completed two rounds of trade negotiations in London, establishing a preliminary agreement to implement the consensus reached between Presidents Xi Jinping and Donald Trump in a recent telephone conversation. According to Li Chenggang, the negotiator for the Chinese team, the discussions were "professional, rational, profound, and sincere." The parties agreed on an initial framework aimed at strengthening mutual trust, with both teams preparing reports on the progress for their respective leaders.
For his part, the U.S. Secretary of Commerce, Howard Lutnick, emphasized that the new trade framework should facilitate the resolution of restrictions on rare earths, which are critical components for various industries. The talks were convened in a context of increasing tensions, where both countries had mutually accused each other of breaching previous agreements, especially with regard to the export of technology and strategic resources. Despite the disputes, the recent dialogue seems to pave the way for a more constructive collaboration between both powers.
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