President Trump talk say USA and China don reach agreement to roll back some measures wey dem take against each other economy for recent months. Dis one dey include di restrictions wey him administration propose on Chinese students wey dey attend U.S. universities.
Di agreement follow two days of marathon negotiations for London. E go return di countries to di terms of a trade truce wey dem reach for May, after weeks of escalating tensions between dem.
“OUR DEAL WITH CHINA IS DONE, SUBJECT TO FINAL APPROVAL WITH PRESIDENT XI AND ME,” Mr. Trump write on Truth Social. “RELATIONSHIP IS EXCELLENT!”
Di full details of di agreement dem no release am immediately. But e essentially involve China relaxing ein restrictions on shipments of valuable rare earth minerals and magnets wey U.S. manufacturers need. For return, U.S. officials go roll back limits wey dem place on exports of U.S. products and technology, including ethane and airplane parts, as well as di proposed visa restrictions. Both of dem bin dey intended to put pressure on di Chinese.
Tariffs between di countries go remain unchanged. For ein Truth Social post, Mr. Trump write say U.S. tariffs on China go be “a total of 55 percent.” Dat total add together a 30 percent tariff wey him put on products from China for di last few months and a 25 percent tariff wey him impose on some Chinese products during ein first term. For reality, some tariffs on Chinese products dey lower and many significantly higher.
While Mr. Trump describe di agreement as a “deal,” officials no announce progress on any other trade issues, beyond rolling back di tit-for-tat measures wey dem take against each other after Mr. Trump ratcheted up tariffs on Chinese products for early April.
China go make am easier for American industry to obtain much-needed magnets and rare earth minerals, clearing di way for talks to continue between di world's two biggest economies. For return, Trump talk say, di U.S. go stop efforts to revoke di visas of Chinese nationals on U.S. college campuses.
U.S. and China Trade Talks for London
U.S. and China dey hold trade talks for London after Trump phone call wit Xi. Discussions dey focus on easing trade tensions and finding common ground on economic issues.
Key areas of Discussion:
- Rare earth minerals and magnets shipments.
- Restrictions on exports of U.S. products and technology.
- Proposed visa restrictions for Chinese students.