Trump announced a deal:
Trump says just signed deal with China on Wednesday
Lutnick did too a little while later:
US Commerce Secretary Lutnick has said a US-China trade deal was signed two days ago
But it soon became clear that it was nothing new:
US Com Secretary Lutnick announced the deal with China that was reached in Geneva in May!
Now this:
White House official says an understanding reached with China this week is about how to implement expediting rare earths shipments to the U.S. again
So its an ‘understanding’. Not a deal. Not even close.
Progress on rare earths is something.
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This guy is a Fox reporter, digging through the b/s:
In summary:
the two have agrred to an additional framework to implement the Geneva agreement, which had previously stalledChina will accelerate licensing for rare earth mineral exportsthe US has agreed to roll back certain export controls that were imposed after China failed to fully comply with the Geneva terms
This article was written by Eamonn Sheridan at www.forexlive.com.
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