Trump Announces China Agreement Covering Rare Earths and Student Visas
As part of a trade deal, China will provide the US with rare earths up front and allow Chinese students to obtain visas, US President Donald Trump announced Wednesday.
As part of a trade deal, China will provide the US with rare earths up front and allow Chinese students to obtain visas, US President Donald Trump announced Wednesday.
Trump said in a Truth Social post that Beijing would provide the US with “full magnets and all necessary rare earth materials.” The United States will allow Chinese students to attend American universities and colleges in return.
“After final confirmation with President Xi and me, our agreement with China is complete. China will provide full magnets and any rare earths that are required in advance. Similarly, we will give China what was agreed upon, including the use of our colleges and universities by Chinese students, which has always pleased me. China receives 10% of the total tariffs, while we receive 55%. The relationship is great! I appreciate you taking the time to look into this. Trump posted on Truth Social.
The tariff truce between the two nations had fallen apart in May due to rare earths.
According to China’s vice premier, Beijing was prepared to “strengthen cooperation” with Washington earlier today.
With little indication of a long-term solution to trade tensions, U.S. and Chinese officials announced Tuesday that they had reached an agreement on a framework to restore their trade truce and lift China’s export restrictions on rare earths.
The framework agreement, according to US Commerce Secretary Howard Lutnick, puts “meat on the bones” of a deal struck in Geneva last month to reduce bilateral retaliatory tariffs that had risen to triple digits.
The agreement comes as rare earth shipments were the main topic of discussion during negotiations in London. Trump has stated, however, that he and President Xi Jinping must ultimately approve the deal.
Stephen Bannon, the newly appointed chief executive of Donald Trump’s campaign, is a virulent opponent of the H-1B visa programme Read more
Democratic presidential candidate Hillary Clinton returns to campaign on Thursday – after a three-day break due to illness – armed Read more
NEW DELHI: 2017 may well be the defining year of Prime Minister Narendra Modi's five-year term that began with a Read more
On Friday, prices for gold remained steady against a weaker dollar and headed for the 4th weekly gain. Investors are Read more
