Lutnick says reached a framework with China, if approved will implement Geneva agreement

U.S. Commerce Secretary Lutnick speaking after trade discussions with China:

• We have reached a framework to implement the Geneva Consensus
• Combined Geneva Consensus with outcome from leaders call on June 5

• We’re going to go back and see if Trump approves it

• If approved we’ll implement
• Says Xi and Trump call changed outcome

U.S. Trade Representative Greer:

• focussed on full compliance
• We don’t have another meeting scheduled
• We are in constant contact with China

U.S. Commerce Secretary Lutnick:

• Idea behind all this is to increase our trade with China
• Framework is first step, we had to get the negativity out

U.S. Trade Representative Greer:

• We’re moving as quickly as we can
• We feel positive about engaging with the Chinese
• Up to President whether deadline gets extended

U.S. Commerce Secretary Lutnick:

• we expect that rare earth and magnets issues will be resolved in this

This article was written by Eamonn Sheridan at www.forexlive.com.