China confirms a trade deal with United States

China confirmed on Friday details of a trade deal with the United States, saying Washington would lift “restrictive measures” while Beijing will “review and approve” items under export controls.

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“It is hoped that the United States and China will meet each other halfway,” a spokesperson for the commerce ministry said in a statement.

The White House on Thursday said both sides had reached an understanding on issues including expediting rare earth shipments to the United States.

After talks in Geneva in May, Washington and Beijing agreed to temporarily lower steep tit-for-tat tariffs on each other’s products.