WASHINGTON, June 11. /TASS/. The United States and China have virtually finalized a trade agreement, which must be approved by the two heads of state, American President Donald Trump said.
"Our deal with China is done, subject to final approval with President Xi and me," he wrote on Truth Social. According to him, China will supply rare earth metals to the United States.
"We are getting a total of 55% tariffs, China is getting 10%," Trump added.
Apparently, he means that US customs duties on goods from China will amount to 55%, and Chinese tariffs on American products will amount to 10%.
Trump said students from China will be able to study safely in American educational institutions. He added that this "has always been good with me." The US earlier planned to revoke the visas of some Chinese students.
"Relationship is excellent!" Trump said, referring to US and China.
Earlier on Wednesday, the Ministry of Commerce of the People's Republic of China said that Washington and Beijing had made progress in the negotiations in London in resolving trade and economic problems. The parties agreed on measures to implement an agreement reached by the heads of state in a June 5 telephone conversation, as well as to consolidate the results of the May talks in Geneva, the ministry said.
Trade and economic consultations between China and the United States were held in London on June 9-10. China was represented by Vice Premier He Lifeng. The American delegation included Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and U.S. trade negotiator Jamison Greer. The framework of trade and economic consultations between China and the United States was established during the Geneva talks, which took place from May 10 to 11. At that meeting, Washington and Beijing agreed to partially reduce mutual duties, the amount of which exceeded 100% by May.