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Trump Declares US-China Trade Deal “Done”, Secures Access to Rare Earth Minerals and Magnets

June 11, 2025

(3 Minutes Read)

The US President Donald Trump has announced the completion of a new US-China trade agreement, declaring that the deal is “done,” pending final approval between himself and Chinese President Xi Jinping. The announcement follows a two-day round of negotiations held earlier this week at Lancaster House in London.

Posting on his social media platform, Truth Social, Trump hailed the outcome of the talks as a major success, emphasising a new level of cooperation with Beijing and a breakthrough on critical materials vital to U.S. industries.

“OUR DEAL WITH CHINA IS DONE, SUBJECT TO FINAL APPROVAL WITH PRESIDENT XI AND ME,” Trump wrote. “FULL MAGNETS, AND ANY NECESSARY RARE EARTHS, WILL BE SUPPLIED, UP FRONT, BY CHINA.”

Rare earth minerals and high-grade industrial magnets are essential for advanced manufacturing, clean energy technologies, and defense systems. The U.S. has long sought to reduce its dependency on unstable or adversarial sources for these materials, with China being the world’s largest supplier. Securing direct and assured access to these resources represents a significant strategic gain for Washington.

Trump also stated that the agreement includes provisions for the continued enrollment of Chinese students in American higher education institutions — a point he endorsed. “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!),” he added.

In terms of tariffs, the former president revealed that the U.S. would maintain a 55% tariff rate on unspecified categories of Chinese imports, while China would impose a lower 10% rate on American goods. “WE ARE GETTING A TOTAL OF 55% TARIFFS, CHINA IS GETTING 10%,” Trump wrote, suggesting a strong negotiating position for the United States. Trump also declares that the relationship with China is “excellent” (previously, he has claimed that negotiating with Beijing was ‘not easy’).

The announcement has not yet been confirmed by Chinese officials. Observers are awaiting further details, especially on how the proposed agreement aligns with existing trade frameworks and national security concerns. More information is expected, pending a formal statement from President Xi or relevant U.S. trade authorities.