President expects deal with India next as Beijing reaffirms trade ties based on mutual respect
- President Trump confirmed the U.S. and China have signed a new trade agreement earlier this week.
- Commerce Secretary Howard Lutnick said the deal was “signed and sealed” two days prior.
- China’s Vice Minister of Finance Liao Min reaffirmed commitment to economic cooperation during talks in Geneva and London.
- Harvard Professor Graham Allison emphasized the global significance of deepening U.S.-China economic ties.
President Donald Trump confirmed that the United States and China have signed a new trade agreement, describing it as a step toward stability in global markets and signaling a potential follow-up pact with India.
“We just signed with China the other day,” Trump said Thursday evening, as reported by the Associated Press. While the president offered no further details about the contents of the agreement, Commerce Secretary Howard Lutnick told Bloomberg TV that the deal was “signed and sealed” two days earlier. The administration has not released any text or public summary of the agreement to date.
According to Xinhua News Agency, Chinese Vice Minister of Finance Liao Min said China is committed to continuing economic and trade relations with the United States based on “equality, mutual respect and mutual benefit.”
— Liao Min, Vice Minister of Finance, China
Liao’s statement came during a June 20 meeting with Graham Allison, a Harvard professor and longtime expert on international relations. The Chinese official underscored the role of the recent negotiations in “stabilizing both China-U.S. relations and their economic and trade ties.”
China, he said, will “firmly safeguard its legitimate rights and interests” while remaining open to dialogue that benefits both nations and the global economy.
Allison echoed this sentiment, calling the U.S.-China relationship “one of the most important bilateral relationships in the world.” He noted that Beijing had made “notable progress in advancing economic transformation, expanding opening up, and fostering a fair and just market environment.”
“Given the high interdependence of the U.S. and Chinese economies,” Allison stated, “further deepening economic and trade exchanges serves the common interests of both countries and the world.”
President Trump, meanwhile, told reporters that he expects a separate trade deal with India “soon,” suggesting the administration is actively reshaping America’s global economic posture.