President Donald Trump took to Truth Social with a major announcement: a new trade agreement with China is “done,” pending final sign-off by both leaders. After months of back-and-forth, tariff hikes, and global tension, the U.S. and China have hammered out a framework aimed at de-escalating their trade war and securing access to critical rare earth minerals.
“Full magnets, and any necessary rare earths, will be supplied, up front, by China,” Trump wrote. In exchange, the U.S. will welcome Chinese students to American colleges—something Trump says has “always been good with me.” He also touted new tariffs favoring the U.S.: “We are getting a total of 55% tariffs, China is getting 10%. Relationship is excellent!”
Rare earth elements—used in everything from smartphones to electric vehicles—have been a sticking point for months. The U.S. accused China of stalling exports, while China criticized U.S. restrictions on semiconductors and AI-linked technology.
Discussions in London, led by top officials including U.S. Commerce Secretary Howard Lutnick, yielded a comprehensive framework. “We’ve reached a framework to implement the Geneva consensus,” Lutnick said, referring to the earlier agreement set in motion by a June 5th phone call between Trump and Chinese President Xi Jinping.
The deal marks a dramatic shift from earlier this year, when Trump’s sweeping tariffs sent U.S.–China tensions skyrocketing. A temporary truce in May brought those levies down, giving both sides a 90-day window to finalize a solution.
Now, Trump says the finish line is in sight.
“This is the kind of deal only President Trump could make,” said one insider. “It’s tough, it’s fair, and it puts American interests first.”
