US President Donald Trump has said the United States signed a trade deal with China on Wednesday, without disclosing the details.
"Well, we just signed with China yesterday, right? Just signed with China," Trump said at the One Big Beautiful Bill Event at the White House on Thursday.
"In the China deal, we're starting to open up China. Things that never really could have happened," he added.
US and Chinese officials met earlier this month in London to discuss the tariff issue.
In April, the US began implementing significant tariffs on goods imported from China. But in May, the US and China agreed to a broad rollback of punitive tariffs for the initial 90 days.
Trump said the US may sign a deal with India as well.
The US has collected $88 billion from tariffs, he said, adding: "Isn't that a beautiful thing? 88 billion."
Rare earths shipments
"The administration and China agreed to an additional understanding for a framework to implement the Geneva agreement," a White House official confirmed.
The understanding is "about how we can implement expediting rare earths shipments to the US again", the official said.
US Commerce Secretary Howard Lutnick was quoted as saying by Bloomberg: "They’re going to deliver rare earths to us" and once they do that "we'll take down our countermeasures."
Promoting Republican tax and spending cuts legislation, Trump said the One Big Beautiful Bill is "one of the most important pieces of legislation in the history" of the US.
The One Big Beautiful Bill will "secure our borders, turbocharge our economy and bring back the American dream," he added.
Following the House's narrow passage of the sweeping legislation last month, Senate Republicans are now racing to pass it with changes before sending it back to the lower chamber for approval.
