China says it will honor latest trade deal

AWANI

China reaffirmed its commitment to the trade deal after U.S. President Trump declared it "done," urging the U.S. to cooperate in implementing the agreement.

Transcript

00:00Meanwhile, China says it will always honor its commitment after U.S. President Donald

00:04Trump declared that a trade deal with Beijing is done.

00:08The Chinese foreign ministry on Thursday expresses hope that the U.S. will work together with

00:13China to carry out what both presidents agreed on.

00:17The announcement follows two days of intense talks in London aimed at easing tensions after

00:21months of escalating tariffs between the world's two largest economies.

00:25Trump said China had agreed to supply U.S. companies with magnets and rare earth minerals,

00:31while the U.S. will step back from the threats to revoke visas of Chinese students, adding

00:36that U.S. tariffs will be set at 55 percent and China's at 10 percent.

00:42This is subject to final approval from the two presidents, says Trump.

00:46Details of the latest agreement remain limited, but officials say the agreement does not change

00:51the broader term of the Geneva deal, which scaled back but did not remove new tariffs sparked

00:57by Trump's trade war earlier this year.

01:00Trump and China's leader Xi Jinping spoke over the phone last week to kick-start the negotiations

01:05which involved top officials from both countries.

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