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President Donald Trump, who set as one of his goals for his second term reaching trade fairness for United States consumers and corporations in the world market, has announced that a new trade deal has been reached with China.
“Done, subject to final approval with President Xi and me,” he posted on Truth Social.
The announcement came after negotiators for the two nations met in London, and Trump’s own telephone conversation last week with Chinese President Xi Jinping.
It follows a 90-day détente in a tariff war announced in May.,
“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!” Trump said.
BREAKING: President Trump announces the deal with China is DONE. pic.twitter.com/yJvI7K93Iy
— Benny Johnson (@bennyjohnson) June 11, 2025
BREAKING: The USA and China agree on a trade framework after two days of talks in London. Negotiation teams now set to brief @POTUS and #China – more #bullish news for the market and #crypto #digitalassets pic.twitter.com/05UpPatXYf
— PaulBarron (@paulbarron) June 11, 2025
After two days of negotiations in London, US and China have agreed to a broad framework agreement to put their trade truce back on track and resolve China’s export restrictions on rare earth minerals and magnets https://t.co/7uG5CmdvfQ pic.twitter.com/WlpbV8H5xf
— Reuters Business (@ReutersBiz) June 11, 2025
A report from Fox Business said U.S. negotiators included Commerce Secretary Howard Lutnick and U.S. trade representative Jamieson Greer.
The report explained Lutnick expects Trump to approve the agreement, explaining he feels “really good about where we got to.”
“Senior Chinese negotiator Li Chenggang also said both the U.S. and China ‘agreed in principle,’” the report cited.
The White House also said Trump’s administration is working to move onshore critical supply chains, reducing the nation’s reliance on foreign sources for many needed components.
