ABUJA, Nigeria (VOICE OF NAIJA)-United States President Donald Trump announced Wednesday that a new trade agreement between the U.S. and China has been finalized, pending personal approval between himself and Chinese President Xi Jinping.
The announcement came via Trump’s official account on the social media platform X, where he shared key components of the deal and underscored the strength of current U.S.-China relations.
Central to the agreement is China’s commitment to supply the United States with “full magnets, and any necessary rare earths,” materials vital to sectors such as electronics, defense, and renewable energy.
The supply of rare earth elements has been a long-standing point of contention in U.S.-China trade discussions, given China’s dominance in their global production.
“Our deal with China is done, subject to final approval with president Xi and me,” Trump stated, emphasizing the strategic significance of the resource supply arrangement.
In return, the U.S. is expected to maintain access for Chinese students to American higher education institutions.
READ ALSO: Trump Threatens Additional 50% Tariffs On China
Trump expressed support for this element, noting, “including chinese students using our colleges and universities (which has always been good with me!).”
The former president also outlined tariff terms under the deal, claiming the U.S. would impose a combined tariff rate of 55 percent, while China’s would remain at 10 percent—an arrangement he framed as economically advantageous.
“We are getting a total of 55 per cent tariffs, China is getting 10 percent. Relationship is excellent!” he wrote.
This development marks a notable shift from previous Trump-era policies that sought to restrict Chinese student visas amid concerns over intellectual property theft and ideological influence in elite academic institutions.
Proposals during his administration included limiting access to top-tier universities such as Harvard, based on allegations that some institutions were harboring anti-American sentiment.
Despite past tensions, Chinese students have historically contributed significantly to the U.S. higher education system both academically and financially.
During the 2023–24 academic year, approximately 280,000 Chinese students were enrolled in U.S. colleges and universities.
However, recent data indicates that India has overtaken China as the leading source of international students in the country.