China confirms framework for Geneva trade talks implementation with US

China on Friday confirmed the details on the framework of implementing the Geneva trade talks consensus with the US, state-run media reported.

Beijing will review and approve compliant export applications for controlled items in accordance with the law and regulations, Global Times reported, citing the Chinese Commerce Ministry.

Washington will, in turn, cancel a series of measures against China, the ministry said.

On Thursday, US President Donald Trump said Washington signed a trade deal with China on Wednesday, without disclosing the details. "In the China deal, we're starting to open up China. Things that never really could have happened," Trump said.

The Chinese Commerce Ministry expressed hope that the US further develop the role of the Beijing-Washington economic and trade consultation mechanism agreed upon by the presidents of the two countries during their phone call on June 5, "continuously enhance consensus, reduce misunderstandings, strengthen cooperation, and jointly promote the healthy, stable and sustainable development of China-US economic and trade relations."

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.