Today's News: Limited U.S.–China Trade Deal Reached After London Talks
The deal includes China resuming shipments of rare earth minerals and the U.S. rolling back some export restrictions. Tariffs largely remain in place.
Photo: Li Ying/Xinhua
Overview
Date: June 10–11, 2025
Topic: Limited U.S.–China Trade Deal Reached After London Talks
Summary: After escalating trade tensions and retaliatory restrictions, U.S. and Chinese negotiators reached a limited agreement in London to implement terms from a prior Geneva truce. The deal includes China resuming shipments of rare earth minerals and the U.S. rolling back some export restrictions. Tariffs largely remain in place, with the U.S. maintaining a 55% rate on Chinese goods and China imposing 10% on American products. President Donald Trump and President Xi Jinping must still formally approve the agreement, which both sides described as a framework rather than a finalized deal. Analysts and officials caution that the truce is fragile and leaves many contentious issues unresolved.
Sources
The New York Times – "Trump Hails Progress With China, but Details Are Sketchy"
NBC News – "Trump says China tariffs will stay high after two days of talks"
Fox Business – "US, China reach 'framework' to implement trade deal, Lutnick says"
The Washington Post – "Trump hails limited trade deal with China after talks in London"
The Wall Street Journal – "China Puts Six-Month Limit on Its Ease of Rare-Earth Export Licenses"
Key Points
The U.S. and China agreed to a “framework” that reinstates terms of a previously failed Geneva trade truce.
China committed to resuming rare-earth mineral exports to the U.S.; in return, the U.S. agreed to scale back some export restrictions (for example, on jet engines and ethane).
Tariffs remain high: the U.S. maintains 55% tariffs on Chinese goods; China’s remain at about 10%.
Both sides accused each other of violating the Geneva agreement prior to this new understanding.
There is no comprehensive trade deal; this framework focuses narrowly on restoring critical supply flows and easing tensions.
Unique Highlights
The Wall Street Journal revealed China placed a six-month cap on rare-earth export licenses, maintaining future leverage.
CNN reported that the U.S. closed the de minimis tariff exemption, impacting low-value imports from Chinese retailers like Shein and Temu.
NBC News quoted Commerce Secretary Howard Lutnick confirming no changes in tariff rates are currently planned despite Trump's various claims.
Fox Business highlighted that easing restrictions includes Chinese student visas—previously a flashpoint—while Trump personally endorsed their presence.
The New York Times detailed the economic fallout of earlier tariffs, including plant closures, and warned about precedent-breaking trade concessions.
The Washington Post noted that no text of the agreement has been released and that a federal appeals court upheld many Trump tariffs, preserving his trade authority.
Contrasting Details
CNN and The New York Times emphasize that the deal is a minor rollback to a previously dysfunctional status quo, while Fox Business and The Washington Post frame it more optimistically as a diplomatic breakthrough.
The Wall Street Journal underscores the conditional nature of China's rare-earth exports, while The Washington Post implies they will resume unconditionally.
NBC News and CNN point out ongoing technology export restrictions, while Fox Business highlights selective relaxations, causing some ambiguity about the scope of the agreement.
The New York Times and CNN question whether U.S. concessions on national security-linked exports mark a dangerous precedent, which Fox Business does not address.
The Newsie Project uses AI to summarize, compare, and contrast the reporting of the major US and world online news sources.
This is an evolving project. Tools, approaches, and output formats will change over time. The Newsie Project does not attempt to provide a definitive capsule of any news story. While the incidence of errors in these summaries is low, and I attempt to spot-check details, AI tools can hallucinate. Please click through and read the articles for details (some may be paywalled).