US-China trade deal is 'done,' Trump says

ISTANBUL

A trade deal between Washington and Beijing 'is done,' subject to final approval with the presidents of the two countries, US President Donald Trump said on Wednesday.

In a post on the Truth Social, he said the US “is getting a total of 55% tariffs, China is getting 10%.”

"Full magnets, and any necessary rare earths, will be supplied, up front, by China," he said, adding: "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!)."

"Relationship is excellent!" he said.

Later, Trump said he and Chinese President Xi Jinping "are going to work closely together to open up China to American Trade.”

“This would be a great WIN for both countries!!!" he added.

US and Chinese officials met in London this week to discuss the tariff issue.

Previously, in April, the US began to implement huge tariffs on China, but in May, the US and China agreed to a broad rollback of punitive tariffs for the initial 90 days.

* Diyar Guldogan from Washington, DC contributed to this report