WASHINGTON: Former US President Donald Trump has announced that a trade deal between the US and China has been finalized.
In a statement on his social media platform Truth Social, Trump outlined initial details, saying that the deal would receive final approval from both him and Chinese President Xi Jinping.
He said that China would immediately provide all essential minerals the US needs, while the US would provide China with agreed-upon items – including access to American colleges and universities for Chinese students.
Trump noted that under the deal, the US would receive a 55% tariff, while China would benefit from a 10% tariff. In a separate post, he added that the two leaders would work together to increase US exports to China, calling it a major win for both countries.
However, the full details of the deal are still unclear. China’s Ministry of Commerce has not yet commented on the deal. It is worth noting that a similar trade deal was reached in Geneva last month, but Trump later accused China of violating its terms.
