Overview

• A White House official said both countries reached an additional understanding to implement the preliminary Geneva agreement
• The framework leaves U.S. tariffs on Chinese imports at 55 percent and China’s tariffs on American goods at 10 percent
• China agreed to concessions on rare earth mineral exports that are critical to the automotive, defense and energy industries
• Commerce Secretary Howard Lutnick told Bloomberg the framework was signed on June 24
• The pact’s finalization remains subject to sign-off by President Trump and President Xi Jinping