U.S. President Donald Trump announced on Thursday that the United States had signed a new trade deal with China, though he stopped short of revealing its specifics.
“Well, we just signed with China yesterday, right? Just signed with China,” Trump said during remarks at the White House event promoting the “One Big Beautiful Bill.” He added, “In the China deal, we’re starting to open up China. Things that never really could have happened.”
The announcement follows recent talks between U.S. and Chinese officials held earlier this month in London to address ongoing tariff concerns.
The development comes after months of escalating trade tensions. In April, the U.S. imposed significant tariffs on Chinese imports. However, by May, both sides had agreed to a 90-day suspension of some punitive tariffs, signaling a thaw in the trade war.
President Trump also hinted at potential progress on the trade front with India, saying a deal with New Delhi could be in the works.
Citing the financial impact of the tariffs, Trump claimed the U.S. has collected $88 billion, calling it “a beautiful thing.”
Rare Earths Agreement and Implementation Framework
A White House official confirmed that the U.S. and China had also reached an additional understanding on implementing a framework under the Geneva agreement. This includes the expedited shipment of rare earth materials to the U.S.—critical for various industries, including technology and defense.
U.S. Commerce Secretary Howard Lutnick, quoted by Bloomberg, said, “They’re going to deliver rare earths to us,” adding that once shipments resume, the U.S. will lift its countermeasures.
Trump Pushes for Sweeping Legislation
Alongside trade developments, Trump continued to promote the Republican-led “One Big Beautiful Bill,” describing it as “one of the most important pieces of legislation in the history” of the country. He said the bill would “secure our borders, turbocharge our economy, and bring back the American dream.”
Following its narrow approval in the House last month, Senate Republicans are now racing to revise and pass the legislation before returning it to the House for final approval.
