U.S. gets rare earths, China gets 55% tariffs under Trump trade pact
President Trump said Wednesday his administration reached a tentative agreement on a trade truce with China following talks between the two sides in London.
As part of the agreement, which Trump said was pending his approval and the approval of Chinese President Xi Jinping, China will supply “full magnets, and any necessary rare earths,” Trump said on Truth Social.
Trump indicated the U.S. would impose 55 percent tariffs on Chinese goods, while China would impose a 10 percent tariff on U.S. products.
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