A new trade deal with China has been reached, President Donald Trump said Wednesday.
“OUR DEAL WITH CHINA IS DONE, SUBJECT TO FINAL APPROVAL WITH PRESIDENT XI AND ME,” Trump wrote on Truth Social.
“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!).
Donald J. Trump Truth Social 06.11.25 08:04 AM EST pic.twitter.com/rvtM7xSPSn
— Commentary Donald J. Trump Posts From Truth Social (@TrumpDailyPosts) June 11, 2025
“WE ARE GETTING A TOTAL OF 55% TARIFFS, CHINA IS GETTING 10%. RELATIONSHIP IS EXCELLENT! THANK YOU FOR YOUR ATTENTION TO THIS MATTER!” Trump concluded.
Trump later added a postscript that read, “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!!!”
Donald J. Trump Truth Social 06.11.25 06:52 AM EST pic.twitter.com/1jk9lftWqL
— Commentary Donald J. Trump Posts From Truth Social (@TrumpDailyPosts) June 11, 2025
Does this sound like a good deal for the United States?
According to the Wall Street Journal, Trump’s tariff reference means that Chinese goods will have a 30 percent tariff from this term, as well as a 25 percent one imposed during his first term.
The Journal reported that the deal is consistent with an outline developed during talks in Switzerland last month and fine-tuned during meetings in London this week.
“The two largest economies in the world have reached a handshake for a framework,” Commerce Secretary Howard Lutnick said.
“We’re going to start to implement that framework upon the approval of President Trump, and the Chinese will get their President Xi’s approval, and that’s the process.”
“I feel really good about where we got to,” he said, suggesting that China will increase exports of rare earth minerals and magnets containing them that are needed for such things as vehicles with complex technology.
Chinese negotiator Li Chenggang said the nations “agreed in principle” to the trade deal.
It was fantastic to team up with Secretary Scott Bessent and Ambassador Jamieson Greer. World-class team delivering world-class results for America. pic.twitter.com/hWxj1xyNv9
— Howard Lutnick (@howardlutnick) June 11, 2025
Shan Guo, a Shanghai-based partner at the advisory firm Hutong Research, said approving the framework does not mean a resolution to all issues.
“Both sides would want deterrence to prevent the other side from violating the truce,” she said, noting there is “little political trust in each other.”
Vice Premier He Lifeng, who leads China’s delegation, said disputes should be resolved through “equal dialogue and mutually beneficial cooperation,” China’s Xinhua News Agency reported, according to ABC.
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