Trump announces breakthrough trade deal with China; Beijing to supply ‘magnets, rare earths’
By yash chouhan 2025-06-11 18:37:01
Trump announces breakthrough trade deal with China; Beijing to supply ‘magnets, rare earths’
US President Donald Trump on Wednesday announced that an agreement had been reached between Washington and Beijing following two days of intense trade negotiations. Central to the deal is China’s commitment to supply the United States with essential magnets and any necessary rare earth materials, a critical issue that had previously stalled talks in London.
According to Donald Trump's statement US in return will permit Chinese students to continue their studies at American colleges and universities, a move welcomed by both sides.
However, the agreement remains subject to final approval by President Trump and Chinese 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!). We are getting a total of 55% tariffs, China is getting 10%. Relationship is excellent! Thank you for your attention to this matter!” Trump wrote on Truth Social.
