by WorldTribune Staff, June 11, 2025 Real World News
The United States will get rare earth minerals up front from China as part of a trade agreement between the world’s two largest economies, President Donald Trump said on Wednesday.
President Donald Trump said he and Chinese Communist Party leader Xi Jinping would ‘work closely together to open up China to American trade.’The deal is “done,” Trump said in a post on Truth Social.
“Full magnets, and any necessary rare earths, will be supplied, up front, by China. Likewise, we will provide to China what was agreed to, including Chinese students using our colleges and universities (which has always been good with me!). We are getting a total of 55% tariffs, China is getting 10%. Relationship is excellent!” Trump said.
“Adding to the China readout, President Xi and I are going to work closely together to open up China to American Trade. This would be a great WIN for both countries!!!” Trump added.
Officials from both sides said a deal had been reached after a second day of high-level talks in London.
“We have reached a framework to implement the Geneva consensus and the call between the two presidents,” U.S. Commerce Secretary Howard Lutnick told reporters.
The Chinese foreign ministry cited Chinese Vice Premier He Lifeng as saying, “The two sides should work towards each other, keep words and follow through with actions, demonstrate sincerity in honoring commitments, and make concrete efforts to implement consensus, jointly safeguard the hard-won outcomes of dialogue, continue maintaining communication and consultation, to promote steady and sustained growth of China-U.S. economic and trade relations and inject more certainty and stability into the world economy.”
Rare earth elements and magnets widely used by the automotive and defense sectors emerged as a key sticking point in the talks.
China’s Ministry of Commerce in early April imposed export restrictions on strategically important minerals in response to Trump’s tariff increase on Beijing’s exported products.
China produces roughly 60% of the world’s supply of rare earths and processes almost 90%, which means it is importing these materials from other countries and processing them.
‘Done’ deal: Trump says China will supply rare earths to U.S. added by Editor Two on June 11, 2025
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