Trump Claims China Trade Deal Complete but Details Remain Sparse

Donald Trump declared on Thursday evening that the United States has secured a trade agreement with China, though he remained characteristically vague about the specifics of the deal. The announcement came during a White House gathering dubbed “One Big, Beautiful Event,” organised to garner support for his signature legislation.

The proclamation marks yet another instance of Trump’s tendency to announce deals with China without providing substantive details. The declaration follows recent high-level discussions between US and Chinese officials in London, aimed at reducing tensions and establishing a framework agreement.

According to Trump’s posts on Truth Social, the proposed arrangement would see Chinese exports to the US face tariffs of 55 per cent, up from the current 30 per cent, whilst Beijing’s tariffs would remain steady at 10 per cent. The deal reportedly includes provisions for China to supply American companies with rare earth metals and magnets, in exchange for the US withdrawing threats regarding Chinese student visas.

US Commerce Secretary Howard Lutnick offered a more measured response, indicating that both parties had “reached a framework to implement the Geneva consensus,” whilst emphasising that presidential approval from both nations would be required before implementation.

The timing of this announcement is particularly significant, as the White House’s previous suspension of retaliatory tariffs is set to expire on 9 July. Without formal approval from both Trump and Chinese President Xi Jinping, the steepest penalties to date could be implemented.

The development comes after months of escalating trade tensions, during which proposed levies reached a staggering 143 per cent in April, according to World Trade Organisation tracking data. Trump’s latest statements suggest further trade negotiations may be on the horizon, with specific mention of a potential “very big” deal with India.