Washington, D.C. – US President Donald Trump has announced that the United States will reduce tariffs on Chinese goods to 55%, following marathon trade negotiations with China in London. The announcement marks a temporary truce in the prolonged US-China trade dispute.
According to the Associated Press, Trump confirmed that Washington will now receive supplies of magnets and rare earth minerals from China as part of the new agreement. In exchange, tariff rates will be significantly lowered.
Taking to Truth Social, the U.S. President declared that a breakthrough had been achieved:
“OUR DEAL WITH CHINA IS DONE, SUBJECT TO FINAL APPROVAL WITH PRESIDENT XI AND ME. 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% TARIFFS, CHINA IS GETTING 10%. RELATIONSHIP IS EXCELLENT!”
While Trump claims China will reduce its tariffs to 10%, official confirmation from President Xi Jinping or the Chinese Communist Party (CCP) is still pending.
Background: US-China Trade Row and Recent Talks
The announcement comes after an extended diplomatic effort between both countries. Just last week, Trump and Xi held a direct phone call, reportedly at Trump’s request, to address the ongoing tariff tensions.
The most recent negotiations, held in London, were reportedly aimed at reviving the Geneva agreement of May, where both nations agreed to lower tariffs and normalize trade in sensitive goods.
As per reports:
- In Geneva, US tariffs on Chinese imports were reduced from 145% to 30%.
- In response, China dropped its tariffs on American goods from 125% to 10%.
The deal also includes provisions to allow Chinese students to continue studying in U.S. colleges and universities, which Trump noted has “always been good with me!”
While this marks a significant de-escalation, experts note that final approval from both leaders is still required and the long-term durability of the agreement remains uncertain, especially amid the broader context of geopolitical tensions and economic competition.