In a surprise development following negotiations in London, former President Donald Trump announced that a trade deal with China is "done"—pending formal approval from both sides. The agreement reportedly includes a strategic exchange: China will provide the U.S. with upfront access to rare-earth minerals and industrial magnets, while the United States will ease entry for Chinese students into American universities.
The deal is also set to redefine the tariff landscape. The U.S. plans to impose a steep 55% combined tariff on imports from China, while Beijing will implement a 10% tariff on American goods. Though the terms remain tough, the announcement has already been met with a sense of relief by markets hoping for a de-escalation of ongoing trade hostilities.
This development is particularly significant given the importance of rare-earth minerals in powering technologies like electric vehicles, smartphones, and advanced military systems. Securing this supply chain could signal a win for U.S. manufacturers—but the longer-term effects will depend on whether the proposed deal makes it through the final political and diplomatic hurdles.
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