$BTC

President Donald Trump announced the conclusion of an agreement with China regarding tariffs, according to his post on the "Truth Social" platform on Wednesday.

Trump stated in his all-caps post on social media: "Our agreement with China has been reached". The two countries agreed to ease export restrictions, according to the previous agreement reached in Geneva in May. The United States will allow Chinese students to enroll in American universities after Secretary of State Marco Rubio announced last month a plan "to strictly revoke visas for certain Chinese students".

Trump added that Chinese students studying at American universities "have always been in agreement with me!"

The American president confirmed on Wednesday in his post that the agreement includes "full magnets, and any rare earth minerals necessary will be provided in advance by China".

Trump noted that America "will receive a total tariff of 55%, and China will receive 10%".

It seems he refers to a global tariff rate of 10%, accumulated after the United States imposed a 20% tariff on Chinese goods to curb the illegal trafficking of fentanyl across the U.S. border, in addition to a 25% tariff on steel, aluminum, cars, and their parts. However, it was not immediately clear how the figure of 55% was reached. $TRUMP #Write2Earn