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'Deal with China is done': Trump announces trade pact with Beijing after 2-day London talks
President Donald Trump has announced that the United States and China have reached a trade deal after two days of talks in London. read more
US President Donald Trump waves next to Chinese President Xi Jinping after attending a business event at the Great Hall of the People in Beijing on November 9, 2017, during his first term. (Photo: AP)
President Donald Trump announced on Wednesday that the United States and China have reached a trade deal.
Trump said that once he and Chinese leader Xi Jinping give their final approval, the two countries will end the ongoing trade war.
Under the terms of the deal, China will provide all rare earth magnets and the United States will not go after Chinese students studying in the United States, Trump said in a post on Truth Social.
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Once the deal is signed, the United States will keep 55 per cent tariffs on China and China will keep 10 per cent tariffs on the United States.
This is a developing story. It will be updated as details emerge.
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