The China-U.S. economic and trade negotiations stated that the "execution framework" of the Geneva Consensus has been reached.

According to the latest news from foreign media such as Reuters and Bloomberg, Chinese Vice Minister of Commerce Li Chenggang stated to the media on Tuesday that the China-U.S. negotiation teams have reached a framework agreement on trade issues after two days of discussions, and this framework will be submitted to the leaders of both countries for review. Li Chenggang said: “The two sides have reached an implementation framework in principle based on the Consensus reached during the phone call between the two heads of state on June 5 and the Consensus formed at the Geneva meeting.”

According to a report by CNBC, Commerce Secretary Luthnick said:

1. Both parties have reached a framework to implement the Geneva Consensus. Once the two heads of state approve, we will proceed with the implementation.

2. Regarding the issue of rare earths and critical minerals, it is expected to be resolved during the framework implementation process after this round. The measures taken by the United States during the rare earth disruption should be lifted in a “balanced” manner. Once China approves the relevant export licenses to allow its producers to resume exports of critical minerals, the United States will also correspondingly relax its technology export controls on China.

Greer stated around midnight London time that there are no new meeting arrangements with the Chinese side, but both parties are in frequent communication and can dialogue at any time if needed. (No further meetings scheduled with Chinese side, but will be in constant contact with them). He also added that in the eight years of negotiations with the Chinese side, the issue of export controls has been discussed at every meeting.

CNBC also reported: China’s Vice Minister of Commerce Li Chenggang stated earlier that the negotiation process is “rational and candid,” and the industry generally hopes that progress on the rare earth issue can enhance mutual trust between the parties.

Treasury Secretary Besant left midway because he has a hearing with the U.S. House Budget Committee tomorrow at 10 a.m. Eastern Time and must rush back to attend. Before leaving, he also said a few words: "We Have Had 2 days of productive talks, ongoing ), Greer and Lutnick will be continuing with Chinese officials (. Another related piece of news is that U.S. media reported he might succeed Powell as the next Federal Reserve Chairman, but the White House quickly denied it.