#TrumpTariffs 56 % tariff on Chinese goods + "deal" with Beijing

Donald Trump announced an agreement reached with China: the U.S. will maintain a 55% tariff on Chinese goods — of which 10% is the base tariff, 20% is related to drug trafficking (fentanyl), and 25% are previously imposed duties. In response, China will impose a 10% tariff on American goods. Additionally, China commits to supply rare earth minerals and magnets "up front," while the U.S. promises to maintain visas for Chinese students. The deal, according to Trump, is "ready," but final approval is expected from both sides – Trump and Xi Jinping.

📌Suspension of negotiations and extension of deadline

Trump is ready to extend the current 90-day moratorium on "reciprocal" tariffs (the main term — until July 8), if the countries engage in "good faith negotiations." So far, agreements have been reached with the United Kingdom and China, while dialogue continues with the EU, Japan, and others.