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Trump confirms progress in US-China trade deal
13-06-2025 14:52
Trump confirms progress in US-China trade deal
Trump confirms progress in US-China trade deal

US President Donald Trump did not stay on the sidelines of the negotiation process between Washington and Beijing. He quickly reacted to the preliminary trade agreement reached by officials of the United States and China.

According to the US president, the deal now awaits approval by the leaders of both countries. "The deal with China is finalized. All that remains is final approval involving Chairman Xi Jinping and myself," Trump stated with satisfaction. The US leader also added that Beijing had committed to supplying Washington with rare earth metals and other commodities to the full extent. As for the American side, it would fulfill its commitments, including admitting Chinese students to American colleges and universities.

Earlier, Howard Lutnick, the US Department of Commerce Secretary, announced that America would ease export control measures under the terms of the mutual agreement. This issue, specifically the agreement to mutually reduce tariffs for 90 days, was discussed on May 12. The American and Chinese sides lowered tariffs on each other’s goods to 30% and 10%, respectively. Previously, these duties stood at an impressive 145% and 125%. However, at the end of May, Trump posted on social media that China had "completely violated" the agreement. In response, Beijing rejected this interpretation. Following this, the American president held a phone conversation with his Chinese counterpart Xi Jinping, which he described as "very positive."

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

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