US, China agree to $60B in tariff cuts, rare earths remain a snag

U.S.: The United States government, led by President Donald Trump, oversees trade policy and bilateral economic relations with major partners including China. It recently advanced negotiations through the US-China Board of Trade, resulting in tariff adjustments on non-sensitive goods following a summit in Washington. China: The People's Republic of China, under President Xi Jinping, engages in reciprocal trade frameworks and diplomatic talks with the United States on economic cooperation. It participated in recent agreements to adjust tariffs on various imported products while maintaining positions on critical supply chain matters. Trade Framework: The two nations operate under the US-China Board of Trade to address non-sensitive goods in their bilateral exchanges. Critical Resources: Rare earth elements remain a focal point of ongoing discussions in U.S.-China trade relations. Diplomatic Engagement: Recent leader-level meetings in Washington have supported incremental steps toward stabilizing economic ties.