United States President Donald Trump announced on Wednesday that a new trade agreement between the United States and China has been finalised, pending final approval in a personal agreement between himself and Chinese President Xi Jinping.
The announcement was made via Trump’s official account on the social media platform X, where he outlined key aspects of the deal and emphasized the strength of the current US-China relationship.
According to Trump, the agreement includes a commitment from China to supply the United States with full shipments of magnets and other essential rare earth materials, crucial to industries ranging from electronics to defense and renewable energy.
These materials, often dominated by Chinese production, have long been a focal point in US-China trade negotiations due to their strategic importance.
“Our deal with China is done, subject to final approval with president Xi and me,” Trump posted. “Full magnets, and any necessary rare earths, will be supplied, up front, by China.”
In exchange, the US is expected to fulfill its side of the agreement, which includes continued access for Chinese students to American colleges and universities.
Trump described this component of the deal positively, stating, “including chinese students using our colleges and universities (which has always been good with me!).”