President Donald Trump declared a trade deal between the U.S. and China ‘done’ and announced new rare earth minerals he said would be coming into the U.S. from its top trade competitor.
‘Our deal with China is done, subject to final approval with President Xi and me,’ Trump posted Wednesday morning. ‘Full magnets, and any necessary rare earths, will be supplied, up front, by China.’
He also said Chinese students would continue ‘using our colleges and universities,’ sometnign he said has ‘always been good with me’ despite his administration’s crackdown on foreign students at top universities.
He said the U.S. is ‘getting a total of 55 percent tariffs from China,’ without further explanation, and that the U.S. would face a 10 percent tariff from Beijing.
His morning post came before markets opened in New York, and followed trade negotiators announcing they had agreed on a framework following mutli-day talks in London.
President Donald Trump announced a trade deal between the U.S. and China ‘done’, while also calling it ‘subject to final approval’
“First we had to get sort of the negativity out and now we can go forward,” U.S. Commerce Secretary Howard Lutnick told reporters.
