U.S. President Donald Trump announced on Wednesday that China has agreed to provide the United States with an advance supply of rare earth elements as part of a new trade deal. Trump expressed his intention to collaborate closely with President Xi to enhance American trade access to China, heralding it as “a great WIN for both countries!!!”
Trump shared on Truth Social that the economic relationship between China and the U.S.—the globe’s largest economies—remains “excellent.” However, in the same message, he noted, “WE ARE GETTING A TOTAL OF 55% TARIFFS, CHINA IS GETTING 10%.”
In the agreement, China has committed to supplying rare earth magnets and other essential materials up front. In exchange, the U.S. will make certain allowances, including permitting more Chinese students to enroll in American colleges and universities. The deal awaits final approval, contingent upon discussions between Trump and China’s President Xi Jinping.
Officials from both nations disclosed on Tuesday that an accord had been reached after a second round of high-level negotiations held in London.
