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U.S. President Donald Trump is intensifying efforts to secure a comprehensive economic agreement with China aimed at expanding market access for American businesses, the Wall Street Journal reported Friday. The push comes ahead of a new round of trade talks between Washington and Beijing, as both nations look to build on earlier tariff-cut agreements.
According to sources familiar with White House discussions, Trump is pressing China for greater economic concessions, particularly in technology and rare earth sectors. The administration recently eased export restrictions on advanced chipmaking and artificial intelligence products to China, notably allowing Nvidia (NASDAQ: NVDA) to resume sales of its H20 AI chip.
Beijing, in turn, has restarted exports of critical rare earth minerals since late June, signaling a potential thaw in trade tensions. Earlier this year, the U.S. and China signed a framework trade pact to significantly reduce tariffs imposed during previous disputes. However, Washington still maintains levies of 30% to 50% on various Chinese imports as negotiations continue.
Trump hinted at a possible meeting with Chinese President Xi Jinping, stating that relations between the two countries were “very good.” A broader agreement could further reshape global trade dynamics, particularly in technology and supply chain sectors, and provide U.S. firms with enhanced access to China’s vast consumer market.
This renewed push for a larger trade deal highlights Trump’s focus on bolstering U.S. exports and easing trade barriers amid ongoing geopolitical competition with China.
