Trump claims the US-China trade war is over

President Donald Trump says helium has reached a woody with China that volition guarantee the US receives uncommon world materials, keeps tariffs astatine a full of 55 percent, and allows American universities to support accepting Chinese students. Trump announced the news of the statement connected Truth Social, which helium says is inactive “subject to last approval” by himself and Chinese President Xi Jinping.

As noted by NBC News, the 55 percent fig isn’t new, and includes the 30 percent tariffs Trump introduced earlier this year, on with a pre-existing 25 percent tax. China volition besides instrumentality a 10 percent tariff connected US goods nether the agreement.

The purported woody follows weeks of negotiations and economical uncertainty, with a changeless back-and-forth betwixt the US and China making tariffs hard for businesses and consumers to track. In April, China responded to Trump’s up to 145 percent tariffs by introducing caller levies, arsenic good arsenic putting restrictions connected uncommon world minerals and magnets, halting immoderate car accumulation lines successful Europe.

The US and China agreed to intermission tariff increases successful May portion the 2 worked retired an agreement, but tensions accrued adjacent much erstwhile the US Secretary of State Marco Rubio announced plans to “aggressively revoke visas” for Chinese students precocious past month.

But present — astatine slightest according to Trump and his medication — the US and China are yet connected the verge of an agreement. “We person reached a model to instrumentality the Geneva statement and the telephone betwixt the 2 presidents,” US Commerce Secretary Howard Lutnick said during a property briefing connected Tuesday night.