



WASHINGTON >> President Donald Trump announced Wednesday that China will make it easier for American industry to obtain much-needed needed magnets and rare earth minerals, clearing the way for talks to continue between the world’s two biggest economies.
In return, Trump said, the U.S. will stop efforts to revoke the visas of Chinese nationals on U.S. college campuses.
Trump’s comment on social media came after two days of high-level U.S.-China trade talks in London.
Details remain scarce. Trump didn’t fully spell out what concessions the U.S. made. Beijing has not confirmed what the negotiators agreed to, and Chinese President Xi Jinping and Trump himself have yet to sign off on it.
What Trump described as a “deal” is actually less than that: It’s a “framework” meant to set the stage for more substantive talks.
And Trump’s own comments created confusion about what was happening to his taxes — tariffs — on Chinese imports, generating uncertainty about more than $660 billion in annual trade between the two countries.
On social media, Trump declared: “WE ARE GETTING A TOTAL OF 55% TARIFFS, CHINA IS GETTING 10%. RELATIONSHIP IS EXCELLENT!” But a White House official, who was not authorized to discuss the terms publicly and insisted on anonymity to describe them, said the 55% was not an increase on the previous 30% tariff on China because Trump was including pre-existing tariffs, including some left over from his first term.
In a follow-up social media post, Trump said he and Xi “are going to work closely together to open up China to American Trade. This would be a great WIN for both countries!!!”
But Veronique de Rugy, senior research fellow at George Mason University’s Mercatus Center, dismissed the London truce as “a handshake deal … It can change at any time.”