Trump Announces U.S.-China Trade Agreement ‘Done’
(MENAFN) US President Donald Trump announced on Wednesday that a trade agreement between Washington and Beijing has been finalized, pending final approval from the two presidents.
In a post on Truth Social, Trump outlined that the United States will impose a 55% tariff, while China will face a 10% tariff under the new deal.
"Full magnets, and any necessary rare earths, will be supplied, up front, by China," Trump stated, adding, "Likewise, we will provide to China what was agreed to, including Chinese students using our colleges and universities (which has always been good with me!)."
He also emphasized, "Relationship is excellent!"
This announcement comes after US and Chinese officials convened in London earlier this week to address the ongoing tariff disputes.
The US initially imposed hefty tariffs on China in April, but both countries agreed in May to a broad rollback of these punitive tariffs for a 90-day period.
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