
China's Ministry of Commerce said that after talks with the US, the two sides have confirmed a framework, under which Beijing will review export requirements for the items, while the US will cancel relevant restrictive measures.
On the other hand, President Donald Trump declared that the United States will impose a 20% tariff on imports from Vietnam, as part of a new trade agreement reached after last-minute negotiations.
Initially, Vietnamese products entering the US risked facing a 46% tariff, which would take effect next week, as part of the "reciprocal" tariff policy announced by Trump in April.
Under the deal, Vietnam will remove all tariffs on American products. “Vietnam will do something it has never done before: give the United States full access to its markets,” Trump wrote on social media.
In the same agreement, which Trump called the "Grand Cooperation Agreement," the US will impose a higher tariff, of 40%, on goods that pass through Vietnam before being exported to the US - a practice known as "trans-shipping."
In a statement on social media, Trump stressed that this agreement is a major step for trade between the two countries and warned of tough measures against illegal product redistribution practices.
Dozens of other economies, including the European Union and Japan, are still trying to reach agreements with the US before the planned tariffs take effect.