Rare Earths for Visas: China agrees to export rare earths; US to ease entry for Chinese students
PTC Web Desk: In a major development, US President Donald Trump announced on Wednesday that a new trade agreement with China has been finalised, according to a report by Reuters. Under the deal, China will supply rare earth minerals and magnets to the United States, while the US will ease access for Chinese students in American colleges and universities.
"We are getting a total of 55% tariffs, China is getting 10%. Relationship is excellent!" Trump wrote on Truth Social, expressing optimism about the bilateral arrangement. However, he noted that the agreement remains subject to final approval by both himself and Chinese President Xi Jinping.
Key provisions of the deal:
China will provide a full supply of magnets and essential rare earth minerals "up front," ensuring the US has access to critical resources for technology and defense manufacturing.
The United States will allow Chinese students to continue studying in its higher education institutions, a move Trump described as “always being good with me.”
Tariff Structure Detailed
A White House official confirmed that the US will impose a 55% tariff on Chinese imports, broken down as follows:
A 10% baseline reciprocal tariff,
A 20% tariff targeting fentanyl trafficking,
And a 25% pre-existing tariff from prior trade measures.
In contrast, China will levy a 10% tariff on US imports under the new agreement.
- With inputs from agencies
