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China confirms U.S. trade framework as President Trump pursues more deals

MacDailyNews

Jun 27

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President Donald Trump holds a signed executive order on tariffs, in the Rose Garden at the White House in Washington, D.C., April 2, 2025.

On Friday, China announced it has finalized details of a trade agreement with the United States to supply critical rare earth minerals, as President Trump pursues more deals worldwide.

Richard Frost for Bloomberg News:
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It’s been a week of wins for US President Donald Trump. A ceasefire between Israel and Iran, NATO agreed to increase defense spending to 5% of GDP, and China on Friday saying it has further confirmed details of a trade framework with Washington under which it will deliver key rare earths.
Officials from both countries have maintained close contact after holding trade talks in London earlier this month, a spokesperson for the Chinese Commerce Ministry said. The China deal, which US Commerce Secretary Howard Lutnick said had been signed two days ago, codifies the terms laid out in trade talks between Beijing and Washington, including a commitment from China to deliver rare earths used in everything from wind turbines to jet planes.
In a Thursday interview, Lutnick said the US would lift “countermeasures,” but only once rare earth materials start flowing from China. Those US measures include export curbs on materials such as ethane.
Separately Trump said a “very big” trade deal could be signed soon that would open up the Indian market to American business, as negotiators meet in Washington to break a recent deadlock over key issues.
“We are having some great deals. We have one coming up, maybe, with India, a very big one, where we are going to open up India,” Trump said at an event at the White House.

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MacDailyNews Take: With both China and, increasingly, India crucial to Apple’s product production and assembly, any deals between each of these two countries and America is good news for Apple and Apple shareholders.

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