Trump says U.S.-China trade deal is 'done': key details revealed
President Trump confirms a trade deal with China is 'done,' following high-level talks in London.
On Wednesday, June 11, U.S. President Donald Trump announced on social media that the China-U.S. trade deal is "done", after 2 days of complicated talks in London, earlier this week. According to China's international trade negotiator, Li Chenggang, told national and foreign media that the conversations "very professional, rational, in-depth and candid."
China's statement to the news agency Xinhua was that the two sides "should act in the same direction, keep their promises and fulfill their actions, show the spirit of integrity in abiding by their commitments and the efforts to implement the consensus".
Trump celebrates the U.S. - China trade deal
Donal Trump announced in a Truth Social post, that as a result of the U.S. - China talks, Chinese goods were supposed to increase to 55%, and American goods will be set at 10%. He also said that the final approval will be subjected to both presidents, him and President Xi Jinping.
Trump announced the China - U.S. deal. Photo: @realDonaldTrump/ Truth Social
Additionally, China will supply the United States with rare earth minerals "up front". Finally, as part of the deal, the U.S. will keep accepting Chinese students in American colleges.
U.S. representatives talk about the trade deal
While President Donald Trump showed great excitement over reaching an agreement with China, the U.S. representatives were more cautious when asked about the trade deal. According to Treasury Secretary Scott Bessent, who was one of the aides in charge of the negotiation, stated that China had agreed to “stabilize the economic relationship between our two countries”.
According to Bessent, China has an opportunity to shift away excess production towards greater consumption, but needs a reliable partner.
