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The United States and China have finalized a trade agreement that marks a significant step in easing tensions between the world's two greatest economies.

Confirmed by both governments on Friday, the deal includes a key concession from Beijing to expedite export licenses for rare earth minerals critical to U.S. industries. In exchange, Washington will lift restrictions on Chinese tech firms and cancel certain trade measures.

The deal was finalized after negotiations in Geneva and London.

"(We should) leverage the China-U.S. economic and trade consultation mechanism, enhance mutual understanding through communication and dialogue, reduce misunderstandings, strengthen cooperation, and promote the stable, healthy, and sustainable development of China-U.S. relations," said foreign ministry spokesperson Guo Jiakun.


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