DON DEAL? Trump Says U.S. and China Have Reached a Trade Deal, 'The Relationship is Excellent'

After a marathon negotiation session in London, we may have a deal…

President Trump shared on TRUTH Social on Wednesday that the U.S. and China have reached a deal on trade following intense trade negotiations in London.

“Our deal with China is done, subject to final approval with President Xi and me,” Trump announced on Truth Social Wednesday in full capitalization. “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%. The relationship is excellent! Thank you for your attention to this matter!”

From The New York Post:

Commerce Secretary Howard Lutnick had announced late Tuesday that the US and China “reached a framework to implement the Geneva consensus,” referring to the trade truce in May that saw US tariffs drop from 145% to 30% on most Chinese goods. Meanwhile, China agreed to lower its tariffs on most US goods from 125% to 10%.

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China’s Vice Commerce Minister Li Chenggang had similarly confirmed that an agreement in London had been reached, subject to Trump’s and Xi’s approval.

The two sides had spent close to two days in London deliberating over the stalled implementation of the Geneva consensus, wrapping up the marathon talks late Tuesday.

Trump claimed that he had a “very good” call with Xi last week after trade talks had stalled between the two economic giants, soon after he groused that Xi is “very tough, and extremely hard to make a deal with.”

This story is developing…

'Our deal with China is done… Relationship is excellent!' – President Donald J. Trump pic.twitter.com/6NbYDtxuAk

— The White House (@WhiteHouse) June 11, 2025

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