US-China Trade Deal Finalized

A new trade agreement between the United States and China has been finalized, pending approval from both presidents, according to U.S. President Donald Trump, CE Report quotes Anadolu Agency

In a post on Truth Social, Trump stated the deal includes the U.S. imposing 55% tariffs, while China will impose 10%. He also said China will supply full magnets and rare earth materials upfront, while the U.S. will honor its commitments, including allowing Chinese students to study at American universities.

“Relationship is excellent!” Trump added.

U.S. and Chinese officials held talks in London this week to resolve the tariff dispute. The deal follows earlier moves in April to raise tariffs, which were partially rolled back in May for a 90-day period.