Trump Declares U.S.-China Trade Deal ‘Done’, Tariffs Remain at 55%:

U.S. President Donald Trump has announced a new trade framework with China that secures U.S. access to Chinese rare earth minerals and magnets. Tariffs on Chinese imports will remain at 55%, which includes existing import duties. In return, the U.S. will allow Chinese students to study at American institutions. Although called a “deal,” it is in fact a preliminary framework to eventually form a full-fledged trade agreement. A White House official clarified that the tariff rate reflects earlier levies, not a new increase.