Chinese and U.S. officials confirm the “ink is dry,” as a new trade deal has officially been signed. The news came during a White House event last night.
Commerce Secretary Howard Lutnick says the deal was reached earlier this week and is based on earlier trade talks in London. It codifies those terms and includes a commitment from China to send rare earth materials to the United States. Lutnick also told reporters that the U.S. would lift countermeasures but only once the minerals are delivered.
This deal did not mention any specific agricultural products, but officials say they will remain in close contact.
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“It does not extinguish right away here — in any sort of sense — the real profitability concerns and people’s ability to pay bills and get to the other side of this in the very short term. This is where the skepticism builds.”
