(Deutsche Welle) Following the recent successful talks, there are signs of easing tensions in US-China trade relations. According to Chinese official reports, the countries reached a consensus on tariffs during the Geneva meeting, agreeing to address mutual trade concerns. Chinese Vice Minister of Commerce Li Chenggang noted that the dialogue was in-depth and candid, while US Secretary of Commerce Howard Lutnick expressed optimism about resolving issues surrounding critical materials like rare earths.
President Trump mentioned on social media that China had promised to export rare earth materials to the United States. Following the talks, stock markets in Asia and Europe saw rises on June 11.
Professor Holger Görg from Kiel University pointed out that although details were not disclosed, the talks positively affected market confidence. However, Professor Harald Oberhofer from the Austrian Institute of Economic Research warned that the meeting merely resulted in a temporary freeze of some conflict points, with the situation remaining more severe than before the trade war.
The reason for the agreement was that both sides had been affected by the export restrictions on rare earths and semiconductors, which are part of each country's strategic interests.