Former President Trump has unveiled a sweeping trade framework following two days of talks in London, proposing a combined tariff on Chinese goods of up to 55%, which bundles his global 10% baseline tariff, a 25% steel and aluminum levy, and a 20% “fentanyl-precursor” surcharge. In exchange, China would offer rare-earth minerals and grants for Chinese-student visas. Meanwhile, an appellate court temporarily reinstated Trump’s broad “Liberation Day” tariffs, allowing them to stay in force while judicial review continues, with oral arguments set for July 31. Treasury Secretary Bessent also hinted at flexibility, saying the July 8 tariff pause might be extended for “good-faith” negotiators, signaling that the administration may adapt its strategy depending on international cooperation and economic indicators.
