Daily Current Affairs / Trump Declares U.S.-China Trade Deal ‘Done’, Tariffs Remain at 55%:
Category : Business and economics Published on: June 14 2025
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.
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