Bangkok, June 27: US President Donald Trump has confirmed that the United States and China have signed a trade agreement, marking a significant moment in ongoing efforts to ease trade tensions between the world’s two largest economies. Trump also hinted that a similar agreement with India could be signed soon.

Speaking Thursday night, Trump said, “We just signed with China,” but did not reveal specific details. US Commerce Secretary Howard Lutnick, speaking to Bloomberg TV, said the deal had been “signed and stamped” two days ago.

The agreement follows initial talks in Geneva in May, which helped both nations avoid further customs duty hikes that had threatened to halt major portions of bilateral trade. Follow-up discussions in London helped lay the groundwork for the formalization of this agreement.

“The president wants to fulfill these agreements himself. He is the agreement maker,” Lutnick said, adding, “We will make another agreement later,” referring to upcoming talks with India.

China has not officially confirmed the agreement but earlier this week announced faster export approvals for rare earth minerals used in high-tech products like electric vehicles and wind turbines. These minerals have been at the heart of a growing dispute over export controls introduced in April.

The Geneva agreement also calls for a reduction in punitive tariffs that were imposed during Trump’s tariff escalation strategy. However, US tariffs on aluminum, steel, and fentanyl-related products remain in place.

Economic figures from both countries suggest the trade tensions have had measurable effects:

• The US economy contracted by 0.5% in the first quarter of the year.
• China’s factory profits dropped more than 9% in May compared to the previous year, with the automotive sector hit hardest.

The Trump administration is also pursuing additional trade agreements, with India next in line. No timeline has been set, but US officials remain optimistic.

“We will sign another agreement at once,” Lutnick concluded.