“Our deal with China is done, subject to final approval with President Xi and me,” President Trump said on social media at 8:04 a.m. this morning, in a post written entirely in capital letters. “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% tariffs, China is getting 10%. Relationship is excellent! Thank you for your attention to this matter!”
An hour later, he followed up: “Adding to the China readout, 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!!!”
Commentary from other media sources focus on remarks by Commerce Secretary Howard Lutnick and Chinese Vice Premier Li Heifung, who announced simultaneously that as a result of the two days of talks in London, June 9-10, the two nations have agreed “in principle” to a framework to deescalate trade tensions in accordance with the June 5 phone call between President Donald Trump and President Xi Jinping, and this will now be submitted to them for their approval.
