Trump: Our deal with China is done, relationship is excellent | Forexlive

Trump is out with a message on Truth Social about the deal with China.

Naturally, he wrote it in all caps:

OUR DEAL WITH CHINA IS DONE, SUBJECT TO FINAL APPROVAL WITH PRESIDENT XI AND ME. 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! THANK YOU FOR YOUR ATTENTION TO THIS MATTER!

I guess this is the framework to a deal or whatever. I’m not sure how this took 20 hours of negotiating to get but I’m sure there are some other things moving behind the scenes. Note that Trump says “we will provide to China what has been agreed to” without elaborating aside from students.

Futures are bouncing around on this but unmoved from before he sent out the message. Part of that is confusion about what he’s talking about and the tariff rates, as the US rate was lowered to 30% last month. Maybe the Chinese side or a leak will offer some proper context.