President Trump has claimed a new agreement with China that aims to secure rare earth materials for the US, maintain a total tariff of 55%, and continue the acceptance of Chinese students at American universities. This announcement, made on Truth Social, follows extensive negotiations and existing tariffs designed to manage trade uncertainties. Though the deal is highlighted as a significant step, it remains awaiting final approval from both Trump and Xi Jinping. The framework includes both countries pausing tariff increases while aiming for economic stability.
President Trump announced a deal with China to secure rare earth materials and maintain a 55% tariff, pending final approval from both leaders.
The agreement, which also allows American universities to continue accepting Chinese students, comes after prolonged negotiations amid economic uncertainty.
The deal includes a 10% tariff on US goods by China and builds upon previously established tariffs to address complexities in bilateral trade.
US Commerce Secretary Howard Lutnick confirmed the framework of the agreement, emphasizing the goal of implementing the Geneva consensus between the two nations.
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