The U.S. will receive a total of 55% through tariffs, while China will receive 10%.
U.S. President Donald Trump stated that a preliminary agreement has been reached with China on key issues, including the supply of rare earth metals and magnets. However, the final agreement requires approval from both Trump and Chinese leader Xi Jinping.
As part of the deal, China agrees to provide the U.S. with necessary rare earth materials and magnets, as well as allow Chinese students to study at American universities. In response, the U.S. imposes 55% tariffs on Chinese goods, while China sets tariffs at 10% on American goods.
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