Trump Announces US Will Receive Rare Earth Minerals From China – Tariffs on Chinese Goods at 55%
President Donald Trump announced a new trade framework with China, under which the U.S. will receive magnets and rare earth minerals while imposing a total of 55% in tariffs on Chinese goods. According to the Associated…
President Donald Trump announced a new trade framework with China, under which the U.S. will receive magnets and Rare Earth minerals while imposing a total of 55% in Tariffs on Chinese goods.
According to the Associated Press, in return, the U.S. will allow Chinese students to attend American colleges, a shift from Trump’s previous restrictions on Chinese nationals at U.S. campuses. Trump described this as a deal, though officials clarify it is only a framework for future trade negotiations.
A White House official, speaking anonymously, clarified that the 55% tariff includes pre-existing taxes rather than being a direct increase from the previous 30%. Trump emphasized the agreement on his social media site, claiming a strong relationship between the two nations and a commitment to expanding trade.
The announcement followed two days of trade talks in London, where senior U.S. and Chinese officials agreed on steps to resume negotiations after a series of disputes.