White House official dials it all back - its not a deal, its just an 'understanding'

Trump announced a deal:

• Trump says just signed deal with China on Wednesday

Lutnick did too a little while later:

• US Commerce Secretary Lutnick has said a US-China trade deal was signed two days ago

But it soon became clear that it was nothing new:

• US Com Secretary Lutnick announced the deal with China that was reached in Geneva in May!

Now this:

• White House official says an understanding reached with China this week is about how to implement expediting rare earths shipments to the U.S. again

So its an 'understanding'. Not a deal. Not even close.

Progress on rare earths is something.

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This guy is a Fox reporter, digging through the b/s:

In summary:

• the two have agrred to an additional framework to implement the Geneva agreement, which had previously stalled
• China will accelerate licensing for rare earth mineral exports
• the US has agreed to roll back certain export controls that were imposed after China failed to fully comply with the Geneva terms