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The American president confirms the trade agreement pending final approval with Xi Jinping. Provision of rare earths and access for Chinese students to US universities planned
Trade agreement reached between the United States and China on tariffs. The announcement was made by US President Donald Trump in a post on Truth Social, pending final approval of the agreement by him and Chinese President Xi Jinping.
‘Our agreement with China is done, subject to final approval by President Xi and myself,’ Trump wrote. ‘China will immediately provide complete magnets and all the rare earths needed. Likewise, we will provide China with what we agreed upon, including the ability for Chinese students to attend our colleges and universities (which has always been fine with me!).’
According to the president, the agreement provides for a tariff system with 55% duties in favour of the United States and 10% for China. ‘The relationship is excellent!’ Trump added.
The president then emphasised the common desire to continue trade cooperation: ‘President Xi and I will work closely together to open China to American trade. It would be a great victory for both countries!’
If confirmed in detail, the agreement would mark a significant step in the easing of economic relations between the two powers after years of tariff tensions and complex negotiations.
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