Trump Hails Progress With China, but Details Remain Sketchy
President Donald Trump has announced a new trade framework with China, highlighting agreements on rare earth minerals, magnets, student visas, and retaining current tariffs. However, crucial details remain uncertain pending final approval from both Trump and Xi Jinping. 1. What Trump Claims From trade discussions in London, Trump said China will resume exports of rare earth minerals and magnets to the U.S. Meanwhile, Chinese students will gain easier access to American colleges. Tariffs are said to remain—with the U.S. imposing a total 55%, while China keeps its 10% on U.S. imports. 2. Framework, Not Fully Ratified Trump described the deal as “done”—subject to sign-off by both presidents—but offered few specifics. U.S. Commerce Secretary Howard Lutnick referred to it as putting “meat on the bones” of earlier Geneva talks, while Treasury Secretary Scott Bessent called it a revival of the trade […]