Tariffs and Trade Deals Finalized with China

President Trump announced the U.S. and China has agreed for a framework to a new trade deal where the U.S. will get magnets and rare minerals and tariffs on Chinese goods will go to 55%. (10% baseline tariffs, 20% fentanyl tariffs, and 25% section 301 tariffs.)

Trump posted in all caps Wednesday on Truth Social, “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 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 followed up with an additional post, “Adding to the China readout, President XI and I are going to work closely together to open up China to American Trade. This would be a great WIN for both countries.”

By - FZ