Payam Javan: The White House has confirmed that the United States and China have finalized an additional trade agreement aimed at implementing the framework established during talks in Geneva last month. The deal, signed on June 25, focuses on easing trade restrictions, particularly on rare earth minerals and educational exchanges, following intense negotiations in London led by U.S. Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng. President Donald Trump announced the agreement, stating it includes China supplying rare earths and magnets to the U.S., while the U.S. will resume accepting Chinese students at its universities, a move Trump emphasized as mutually beneficial.

This agreement follows a preliminary truce in Geneva that reduced U.S. tariffs on Chinese goods from 145% to 30% and Chinese tariffs on U.S. products to 10%. Despite the progress, both sides acknowledge that the deal awaits final approval from Trump and Chinese President Xi Jinping. The framework aims to stabilize trade relations strained by recent tit-for-tat tariffs, though experts note it largely restores the status quo without addressing deeper structural issues like trade imbalances or intellectual property concerns. Further details are expected as both nations continue negotiations through a newly established trade consultation mechanism.