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U.S. President Donald Trump announced on Thursday that the United States has officially signed a new trade agreement with China. The deal lifts restrictions on the export of rare earth minerals and grants Chinese students the right to study in the United States.
Speaking at a White House event promoting a government spending bill, Trump confirmed that the agreement was finalized on Wednesday. He added that the deal includes mutual tariff rates that could reach up to 55%.
Trump emphasized that the U.S. will not be entering into trade deals with every country. Instead, he stated that Washington will impose tariffs of 25% to 40% on nations that do not engage in fair trade practices. He also hinted at a major upcoming agreement with India.
The announcement follows trade talks in London between U.S. and Chinese negotiators, during which both sides reached a framework to ease ongoing trade tensions between the world’s two largest economies.
Earlier this month, on June 11, Trump had hinted at a breakthrough with China, but this latest statement confirms that a formal agreement has now been signed—marking a significant step toward improved bilateral economic relations.
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