Donald Trump has announced that the United States has reached a trade agreement with China, following 48 hours of negotiations between the two nations.
In a social media post on Wednesday, the former president said the deal now awaits approval from Chinese leader Xi Jinping. He described the agreement as a “great win for both countries,” emphasising plans for the two global powers to work closely together to expand American trade access to China.
Trump also stated that, under the deal, Chinese students would be permitted to study at U.S. colleges and universities, and characterised the current relationship between Washington and Beijing as “excellent.”
In return, the United States will gain access to Chinese supplies of magnets and rare earth materials—critical components in the production of green technologies, such as wind turbines and electric vehicles.
Posting on his Truth Social platform, Donald Trump wrote: “Our deal with China is done, subject to final approval with President Xi and me.”
Donald Trump has outlined further details of the new US-China trade agreement, stating that China will provide “full magnets, and any necessary rare earths” up front—materials essential for green technologies such as electric vehicles and wind turbines.
He added, “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).”
Trump also highlighted the tariff structure under the deal: “We are getting a total of 55% tariffs, China is getting 10%. Relationship is excellent.”
In a separate post, he wrote: “Adding to the China readout, President Xi and I are going to work closely together to open up China to American trade. This would be a great win for both countries.”
The announcement followed comments from U.S. Commerce Secretary Howard Lutnick, who earlier confirmed that both nations had agreed on a “framework” to reset their trade relationship.
The two countries now have until August 10 to finalise a broader agreement aimed at easing trade tensions. If no deal is reached by then, U.S. tariffs on Chinese goods will automatically surge from around 30% to 145%, while China’s tariffs on American imports will rise from 10% to 125%.
