Trump says China trade deal is ‘done,’ but subject to ‘final approval’

President Trump announced on Wednesday that a new trade agreement with China is “done,” with the U.S. set to impose 55% tariffs while China receives 10%. Trump said China will supply rare earths and magnets “up front” and described the relationship between the two countries as “excellent.” The deal is “subject to final approval” by both Trump and Chinese President Xi Jinping.

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