US President Donald Trump on Wednesday announced on Truth Social that, as a part of a trade agreement, China will supply magnets, rare earths to the United States, and in return, the US will allow student visas for the Chinese. He said the deal was finalised and was only subject to final approval from him and China's President XI Jinping.
“OUR DEAL WITH CHINA IS DONE, SUBJECT TO FINAL APPROVAL WITH PRESIDENT XI AND ME. 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!)," he said.
Trump also said that the relationship between the two countries is excellent and that China will maintain its current 10% tariffs on goods imported from the U.S,while the U.S. would keep 55% tariffs on Chinese imports.
“WE ARE GETTING A TOTAL OF 55% TARIFFS, CHINA IS GETTING 10%. RELATIONSHIP IS EXCELLENT! THANK YOU FOR YOUR ATTENTION TO THIS MATTER!"
Officials from both countries reached a consensus after a round of talks in London.
