Overview

• Presidents Trump and Xi must ratify the interim accord that restores the Geneva truce and pauses escalatory tariff cycles.
• Under the framework China will issue rare earth export licenses to US firms in six-month increments to support critical supply chains.
• The US has agreed to soften export curbs on advanced technologies and reinstate previously revoked student visas for Chinese nationals.
• US tariffs on Chinese exports will stay near 55% while China’s duties on US goods hold around 10% until leaders finalize the agreement.
• Trade policy uncertainty remains elevated and the US is racing to secure similar deals with Japan and India before a July 9 tariff deadline.