US and China sign trade deal, agreeing rare earth access and student visas for Chinese nationals
The US and China have signed an agreement on trade, President Donald Trump said on Friday. The deal will give US companies easier access to rare earth minerals vital for high-tech products, while Washington will stop revoking the visas of Chinese students on US campuses.
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00:00After months of wrangling and threats from both sides, the U.S. and China have signed a trade agreement, President Trump said on Friday.
00:08Trump didn't provide any details of the agreement, but U.S. officials said it was signed earlier this week.
00:15The agreement follows initial talks in Geneva last month that led both sides to postpone massive tariff hikes that were threatening to freeze trade between the two countries.
00:25China's Commerce Ministry said on Friday that the two sides had further confirmed the details of the framework.
00:32It's unclear if the latest deal is different from the one Trump announced two weeks ago, that he said would give U.S. industries easier access to rare earth minerals and magnets,
00:42while Washington would stop revoking visas for Chinese nationals at U.S. universities.
00:48Beijing's limits on exports of rare earths, vital to high-tech products, including electric vehicles, have been a key point of contention.
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