Overview

• The framework sets a 55% US tariff on Chinese goods and a 10% reciprocal tariff on US imports in China pending sign-off by President Trump and President Xi Jinping.
• China will grant six-month export licenses for rare earth minerals to resume shipments critical for US manufacturing.
• The US will lift export controls on jet engines and ethane that were imposed following the Geneva agreement.
• Chinese students will retain access to US colleges and universities under the terms of the deal.
• Treasury Secretary Scott Bessent said the administration may extend the July 9 deadline for tariff negotiations with 18 other trading partners.