China confirms US trade framework, repeats vow to review exports

China said it has further confirmed details of a trade framework with the U.S. in recent days, echoing U.S. Commerce Secretary Howard Lutnick’s earlier comments about a U.S.-China agreement. A spokesperson for the Chinese Commerce Ministry made the announcement in a statement today, while reiterating that it will continue to approve export permits of controlled items. The U.S. and China finalized a trade understanding reached last month in Geneva, Lutnick said yesterday, adding that the White House has imminent plans to reach agreements with a set of 10 major trading partners. The China deal, which Lutnick said had been signed two days ago, codifies the terms laid out in trade talks between Beijing and Washington, including a commitment from China to deliver rare earths used in everything from wind turbines to jet planes. In the statement, the Chinese Commerce Ministry said Beijing will “review and approve eligible applications for export of controlled items in accordance with the law,” and the U.S. side will cancel restrictive measures, which it didn’t specify. Referencing a June 5 call between U.S. President Donald Trump and Chinese leader Xi Jinping, the ministry said the two countries should work together to promote the stable development of economic and trade ties. By Josh Xiao Beauty and the tariff beast: Industry in crisis Trade war is travel retail’s golden ticket China blacklists Calvin Klein owner PVH amid trade spat Can Shein survive Trump’s trade war?

China confirms US trade framework, repeats vow to review exports

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Published June 27, 2025

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China confirms US trade framework, repeats vow to review exports