US-China Big Deal: 55% Tariff on Chinese Goods Finalized, Student Entry Part of the Pact

New Delhi (The Uttam Hindu)- Donald Trump has hinted at raising tariffs on Chinese goods to 55%. Trump claimed that this deal will secure rare minerals from China. Trump said that the US will impose a 55 percent tariff on Chinese goods, while China will impose a 10 percent tariff on American products. President Trump said that his administration has reached a tentative agreement on a trade deal with China after talks between the two sides in London. Giving information about China on the social media platform Truth Social, President Trump wrote that President Xi and I will work together to open China to American trade. This will be a big win for both countries!

Trump described the relationship between the two sides as “excellent” and said: “We will give China everything that was agreed upon, including allowing Chinese students to use our colleges and universities (that’s always been good for me!).” Tariff talks between the two sides had been stalled in recent weeks after officials reached a preliminary agreement last month to reduce the tariff rate on US imports from China from 145 percent to 30 percent. Beijing has also reduced its rate on US goods from 125 percent to 10 percent. China is the undisputed leader in the critical mineral supply chain, producing about 60% of the world’s supply of rare earths and processing about 90% of it, meaning it is importing and processing these materials from other countries. The deal will see China send rare earths to the US, and the US admit Chinese students to colleges. Some reports say that Chinese minerals come from forced labor in Xinjiang, which China denies. Brands such as Walmart, Avon, Coca-Cola and Nescafe may be linked to this. The report found that 77 Chinese companies are using forced labor in Xinjiang. The report says that Uighur and Turkic people are being forced to work in special work programs by the government.