WASHINGTON, United States (US): US President Donald Trump said on Wednesday that the US-Chinese trade deal was “done”, pending a final approval by himself and Chinese President Xi Jinping, Sputnik/RIA Novosti reported.
“Our deal with China is done, subject to final approval with President Xi and me. 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!).
“We are getting a total of 55 per cent tariffs, China is getting 10 per cent,” Trump said on Truth Social.
In an appearance on the Pod Force One podcast shortly earlier in the day, Trump said China was “very tough to deal with”.
China and the US held high-level trade and economic talks in Geneva, Switzerland, on May 10-11.
The talks were coordinated by Chinese Vice-Premier He Lifeng on the Chinese side and by Treasury Secretary Scott Bessent on the US side.
The parties said following the talks that they had agreed on a preliminary deal to reduce trade tariffs, which came into effect on May 14 for 90 days.
“Reciprocal” tariffs between the countries were to be reduced to 10 per cent.
As a result, Beijing will impose a 10 per cent tariff on American imports, while Washington will charge 30 per cent on Chinese products, since the 20 per cent ’fentanyl’ tariff remains in effect.
- BERNAMA-SPUTNIK/RIA NOVOSTI
