Trump Says US-China Trade Deal Is Finalized, Tariffs Adjusted And Rare Earth Exports Restored

Former President Donald Trump announced on social media Wednesday that a trade deal with China is “done,” following two days of high-level talks between U.S. and Chinese officials in London.

The agreement marks a return to a trade framework both sides initially reached last month in Geneva. China described the latest negotiations as “reasonable” and “frank,” emphasizing the importance of mutual commitment and trust. According to Chinese state media Xinhua, both nations should “keep their promises,” act in “the same direction,” and honor their commitments to implement the agreed-upon terms.

As part of the new trade terms, Trump stated that U.S. base tariffs on Chinese goods will rise to 55%, while China will impose a 10% tariff on American products. Prior to last month’s truce, tariff levels had escalated to a combined 245% between the two countries.

A significant breakthrough in the deal involves China agreeing to immediately resume exports of rare earth minerals—materials it dominates globally in production and had previously restricted. Trump confirmed that China will supply these resources “up front.”

In a notable shift, Trump also walked back a policy earlier announced by Secretary of State Marco Rubio, which would have restricted visas for Chinese students linked to the Communist Party or studying sensitive subjects. Writing on Truth Social, Trump said:

“WE WILL PROVIDE TO CHINA WHAT WAS AGREED TO, INCLUDING CHINESE STUDENTS USING OUR COLLEGES AND UNIVERSITIES (WHICH HAS ALWAYS BEEN GOOD WITH ME!).”

The latest agreement signals a cautious but concrete step toward easing long-standing trade tensions between the world’s two largest economies.