Historic end to world's biggest trade war as Trump reaches deal with China and touts ‘excellent' outcome for US
DON DEAL Historic end to world's biggest trade war as Trump reaches deal with China and touts 'excellent' outcome for US
DONALD Trump has declared an end to the trade war with China as he announced the two countries are honing in on a final deal.
The president said his relationship with China's President Xi Jinping is "excellent" after months of tit for tat tariff drama.
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President Donald Trump has said America struck a trade deal with China
Credit: Reuters
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Trump said his relationship with President of China Xi Jinping is 'excellent'
Credit: Getty
In a Truth Social post on Wednesday, Trump said, "Our deal with China is done, subject to final approval with President Xi and me.
"Full magnet, 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%. Relationship is excellent!"
Heated talks started to cool down after Trump announced that he had a "very good" phone call with Xi Jinping last week.
The president said that he and Melania were invited to the rival nation and that he extended a reciprocal invitation to Jinping and his wife.
"We both accepted, so I will be going there with the first lady at a certain point," Trump told reporters.
Trump forced the world into an overnight scramble when he announced sweeping 10% tariffs on nearly every country in the world.
He doubled down the pressure when he revealed his plans to charge massive reciprocal tariffs that were said to match taxes that American manufacturers have been paying out.
China was one of the hardest hit, as the world's largest manufacturer relies on American consumers to buy electronics, toys, and tons of other goods.
Xi Jinping was quick to announce revenge tariffs that led to Trump threatening a bruising 145% fee.
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