China and the US have reached a “done deal” that includes rare earth exports from China and Chinese students attending colleges in the US, President Donald Trump said on Wednesday, pointing to a potential breakthrough aimed at easing trade tensions that were reignited by mutual accusations of deal violations.
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“Our deal with China is done, subject to final approval with President Xi [Jinping] and me,” Trump posted on his social media platform Truth Social, as negotiating teams from the two countries concluded two days of talks in London.
“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!),” Trump wrote.
“We are getting a total of 55 per cent tariffs, China is getting 10 per cent. Relationship is excellent! Thank you for your attention to this matter!”
Minutes later, Trump posted another message saying that he and Xi would “work closely together” to “open up China to American trade”.
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