The emerging trade deal with China, as teased by President Donald Trump, would “open up China to American” trade.
“Adding to the China readout, President XI [Jinping] and I are going to work closely together to open up China to American Trade,” Trump wrote Wednesday on Truth Social. “This would be a great WIN for both countries!!!”
Top officials from the United States and China agreed on a “framework” to move forward on trade after two days of high-level talks in London to resolve tensions.
Commerce Secretary Howard Lutnick expressed optimism late Tuesday after a full day of negotiations that concerns surrounding rare earth minerals and magnets “will be resolved” eventually, as the deal is implemented.
Trump posted early Wednesday morning, hailing the prospects of a trade deal.
“Our deal with China is done, subject to final approval with President Xi and me,” Trump’s Truth post read. “Full magnets, and any necessary rare earths, will be supplied, up front, by China.
“Likewise, we will provide to China what was agreed to, including Chinese students using our colleges and universities (which has always been good with me!). We are getting a total of 55% tariffs, China is getting 10%. Relationship is excellent! Thank you for your attention to this matter!”
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