US-China Trade Deal Finalized Amid Skepticism

The United States and China have finalized a trade agreement, with U.S. Commerce Secretary Howard Lutnick confirming it was 'signed and sealed' two days ago, though Chinese confirmation and substantive details remain limited. The agreement includes China's commitment to provide rare earth materials critical for U.S. industries and the U.S. easing restrictions on ethane exports to China, important for Chinese plastics manufacturing. Tariffs will stay at 55% for China and 10% for the U.S., but future adjustments are possible. Despite official announcements, some skepticism remains about the depth of the agreement due to the lack of Chinese confirmation. The deal is part of a broader U.S. strategy to reach similar agreements with other countries before a July 9 deadline for tariff categorization. Implementation and effectiveness depend on continued follow-through from both governments.