June 11 (UPI) — President Donald Trump said Wednesday that the United States and China have come to an agreement over trade and the acquisition of rare earth minerals.
“Our deal with China is done, subject to final approval with President Xi and me,” Trump wrote on Truth Social Wednesday. “full magnets, and any necessary rare earths, will be supplied, up front, by China.F
Trump’s posted proclamation followed an earlier announcement from U.S. Commerce Secretary Howard Lutnick Wednesday that a framework and agreement was in place and only awaited presidential approval from both nations.
Trump added that the two countries’ trade relationship is “excellent,” as the United States is “getting a total of 55% tariffs,” while China “is getting 10%.”
He further included that the United States will also make good on a promise to allow Chinese students to attend American colleges and universities,” which he said, “has always been good with me.”
U.S. Secretary of State Marco Rubio announced in May that his department would work to “aggressively revoke” visas of Chinese students, especially those deemed to have ties to China’s communist party who are studying in so-called critical fields.
Neither nation has stated the deal has actually been approved, but rather simply said the deal has been agreed upon.
“The two sides have, in principle, reached a framework for implementing the consensus reached by the two heads of state during the phone call on June 5th and the consensus reached at the Geneva meeting,” China’s vice commerce minister Li Chenggang said Wednesday .
The phone call refers to a conversation between Trump and Xi last week that seemingly put the Geneva meeting in motion.
