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- China, U.S. agree on implementing Geneva consensus, building on London framework, Beijing says</p>
<p>Anniek Bao, CNBCJune 27, 2025 at 2:39 AM</p>
<p>The Chinese Ministry of Commerce in Beijing. (VCG / Getty Images)</p>
<p>The U.S. and China have further confirmed the details of the trade agreement reached by both sides earlier this month in London, which will implement the Geneva consensus, according to a statement released by China's Ministry of Commerce on Friday afternoon.</p>
<p>China will review and approve the export applications of items under export control rules, while the U.S. will cancel a range of existing restrictive measures imposed against China, a spokesperson for the ministry said in the statement.</p>
<p>The statement came after U.S. President Donald Trump said Thursday at an event in the White House that both sides had signed a trade deal, without providing further details.</p>
<p>This is breaking news. Please check back for updates.</p>
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