Trump Announces Completion of US-China Trade Deal, Suggests Tariff Adjustments

President Donald Trump announced on social media that a US-China trade deal has been completed, stating that the agreement is subject to final approval from him and Chinese President Xi Jinping. In his post, Trump emphasized that the deal includes essential raw materials such as rare earth elements, with China supplying these resources upfront in exchange for US commitments.

"Our deal with China is done," Trump declared, adding that "the relationship is excellent." The agreement outlines a 55% tariff for the US and a 10% tariff for China, signaling a potential shift in trade relations between the two nations.

The announcement comes on the heels of a meeting earlier this week in London involving US Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and US trade representatives with their Chinese counterparts. Trump stated that this meeting has led to meaningful progress in repairing and enhancing US-China relations.