Trump Confirms China Trade Deal, Signals Major Agreement with India on the Horizon.
US President Donald Trump on Thursday announced the signing of a trade agreement with China and indicated that a “very big” trade deal with India could be next. Speaking at the “Big Beautiful Bill” event, Trump highlighted the administration’s recent progress on global trade partnerships.
“Everybody wants to make a deal,” Trump said. “We just signed with China yesterday. And we have one coming up—maybe with India. A very big one. We’re going to open up India. In the China deal, we’re starting to open up China.”
While Trump didn’t elaborate on the specifics of the China agreement during his speech, a White House official later confirmed that the deal centers on expediting shipments of rare earth elements from China to the United States. These critical minerals play a vital role in US industries such as defense, electric vehicles, and advanced electronics.
“The administration and China agreed to a framework to implement the Geneva agreement,” the official told Reuters, noting the arrangement aims to resolve delays caused by Chinese export restrictions on key minerals and magnets.
US Commerce Secretary Howard Lutnick added that under the terms of the deal, China will resume rare earth exports, and the US will, in return, lift certain countermeasures. “They’re going to deliver rare earths to us,” Lutnick said. “And once they do, we’ll take down our countermeasures.”
Trump also made clear that not all nations would receive trade concessions. “We’re not going to make deals with everybody,” he said. “Some we’ll just send a letter—say thank you very much—you’re paying 25, 35, 45 percent.”
Meanwhile, expectations are rising for a forthcoming trade deal between the US and India. Earlier this month, Secretary Lutnick expressed optimism during remarks at the US-India Strategic Partnership Forum.
“I think we’re in a very, very good place,” Lutnick said. “You should expect a deal between the United States and India in the not-too-distant future. I’m very optimistic.”
The potential US-India agreement could further deepen bilateral trade ties, which have grown steadily in recent years amid a shifting global economic landscape.
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