Trump's talking about tariffs again - this time about a new trade deal with China

Donald Trump has been talking about tariffs once more as the president announced that a US trade "deal with China is done" and "subject to final approval" from himself and China's president, Xi Jinping.

This week, both American and Chinese representatives met in the UK to hash out the framework in order to elaborate on the agreement they reached in May.

Taking to his platform Truth Social, to announce the news, Trump divulged some of the details agreed upon, which allow the US to charge a 55 per cent tariff on imported Chinese goods, while China’s tariffs on the US will remain at 10 per cent.

In addition to this, China will supply magnets and rare earth minerals, and the US will enable Chinese students to study in its colleges and universities.

Trump's talking about tariffs again - this time about a new trade deal with Chinawww.indy100.com

“OUR DEAL WITH CHINA IS DONE, SUBJECT TO FINAL APPROVAL WITH PRESIDENT XI AND ME," Trump wrote on Wednesday.

"FULL MAGNETS, 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! THANK YOU FOR YOUR ATTENTION TO THIS MATTER!"

The president continued in a follow-up post, “President XI and I are going to work closely together to open up China to American Trade. This would be a great WIN for both countries!!!”

The deal comes after there had previously been escalating tensions between the two countries after China was hit hardest by Trump's controversial tariff announcement earlier this year. At the height of this trade war, the US implemented a 145 per cent tariff on China back in April, and in response, China added a 125 per cent duty on some US goods.

Elsewhere, LA protests day five in pictures as locals condemn Trump, and Trump's hypocritical use of National Guard called out by Nancy Pelosi.

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