Overview

• The deal signed on June 26 ends a tariff war that saw U.S. duties rise to 145 percent and Chinese duties to 125 percent.
• China has committed to deliver rare earth elements crucial for high-tech industries, prompting the U.S. to lift its countermeasures upon receipt.
• A consultative mechanism established in Geneva last month provided the framework for resolving the escalated tariffs.
• Commerce Secretary Howard Lutnick confirmed the accord and said Washington is close to finalizing agreements with ten additional countries.
• President Trump signaled that a major trade pact with India is forthcoming as part of a broader push to reshape U.S. trade relations.