Headlines
China affirms trade deal with US, says it always keeps its word
Published by Global Banking & Finance Review®
Posted on June 12, 2025
2 min readLast updated: January 23, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on June 12, 2025
2 min readLast updated: January 23, 2026
China confirms its commitment to a US trade deal after discussions between Trump and Xi Jinping, aiming to ease tariffs and improve relations.
BEIJING (Reuters) -China on Thursday affirmed a trade deal announced by U.S. President Donald Trump, saying both sides needed to abide by the consensus and adding China always kept its word.
The deal, reached after Trump and China's President Xi Jinping spoke on the telephone last week, brings a delicate truce in a trade war between the world's two largest economies.
"China has always kept its word and delivered results," Lin Jian, a foreign ministry spokesperson, said at a regular news conference. "Now that a consensus has been reached, both sides should abide by it."
The Trump-Xi telephone call broke a standoff that had flared just weeks after a preliminary deal was reached in Geneva. The call was quickly followed by more talks in London that Washington said had put "meat on the bones" of the Geneva agreement to ease bilateral retaliatory tariffs.
The Geneva deal had faltered over China's continued curbs on minerals exports, prompting the Trump administration to respond with export controls preventing shipments of semiconductor design software, jet engines for Chinese-made planes and other goods to China.
Trump on Wednesday said he was very happy with the trade deal. "Our deal with China is done, subject to final approval with President Xi and me," Trump said on Truth Social.
"Full magnets, and any necessary rare earths, will be supplied, up front, by China. Likewise, we will provide to China what was agreed to, including Chinese students using our colleges and universities (which has always been good with me!). We are getting a total of 55% tariffs, China is getting 10%."
Still, specifics of the latest deal and details on how it will be implemented remain unclear.
A White House official said the 55% represents the sum of a baseline 10% "reciprocal" tariff Trump has imposed on goods imported from nearly all U.S. trading partners, 20% on all Chinese imports associated with his accusation that China had not done enough to stem the flow of fentanyl into the U.S., and pre-existing 25% levies on imports from China put in place during Trump's first presidential term.
(Reporting by Lewis Jackson; writing by Ryan Woo; Editing by Christian Schmollinger and Michael Perry)
China affirmed a trade deal announced by U.S. President Donald Trump, stating that both sides needed to abide by the consensus and emphasizing that China always keeps its word.
The Trump-Xi telephone call broke a standoff in the trade negotiations and was quickly followed by more talks in London, indicating progress in the trade discussions.
The specifics of the latest deal and how it will be implemented remain unclear, with a White House official mentioning tariff implications and reciprocal arrangements.
President Trump expressed satisfaction with the trade deal, stating it is done, subject to final approval with President Xi.
The Geneva deal had faltered due to China's continued curbs on minerals exports, prompting the Trump administration to impose export controls.
Explore more articles in the Headlines category
