After the second round of U.S.-China trade talks in London, President Trump joyfully announced that a trade agreement had been reached, pending a final confirmation from the leaders of both nations. In addition to tariff rates, China will lift restrictions on rare earth exports, providing relief for U.S. technology industries, as rare earth elements are essential for various tech products, including fighter jets and missiles.

According to the Wall Street Journal, if negotiations proceed smoothly, Trump could visit China as early as September. China's Vice Premier He Lifeng and U.S. Treasury Secretary Mnuchin reported positive results after two days of talks in London.

Chinese trade representative Li Chenggang stated that both sides have, in principle, reached a framework based on the consensus established during a June 5 call. The phrase 'in principle' is common in Chinese diplomatic language, indicating that final details have yet to be confirmed.

U.S. Trade Representative Lighthizer expressed optimism about achieving an agreement with China before the August 12 deadline. Trump enthusiastically shared his belief that the U.S. secured 55% of tariffs while China received 10%.

White House spokesperson McEnany noted that the President is satisfied with the current developments; China has agreed to open its markets to the U.S. and release specific critical minerals in addition to the agreement.

Analysis suggests that while this marks temporary relief for American automakers and military suppliers, China's monopoly on rare earth elements may keep the U.S. at a disadvantage in this trade conflict.