China-US agree to ‘done deal’, Trump says, pending sign-off by President Xi

China and the US have agreed to “a done deal” including tariff cuts, rare earth exports from China, as well as Chinese students going to colleges in the US, President Donald Trump said on Wednesday, pointing to a potential breakthrough aimed at cooling trade tensions that had been reignited by mutual accusations of deal violations.

“Our deal with China is done, subject to final approval with President Xi and me,” Trump posted on his social media platform Truth Social, as the negotiating teams from the two countries concluded talks in London from the past two days.

“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. Relationship is excellent! Thank you for your attention to this matter!”