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President Trump says US-China trade deal is ‘done’ pending presidential approval

  • President Trump announced that the U.S.-China trade deal is finalized pending approval from President Xi and him.
  • The agreement includes provisions for supplying magnets and rare earths by China and reciprocal arrangements for Chinese students in U.S. colleges.
  • Trump highlighted a positive relationship with China, mentioning tariffs of 55% for the U.S. and 10% for China.
  • Both Trump and President Xi expressed intentions to enhance American trade access to China.
  • Commerce Secretary Lutnick anticipates Trump approving the deal soon.
  • Senior Chinese negotiator Li Chenggang mentioned an agreement in principle between the U.S. and China.
  • The negotiation focused on increased exports of rare-earth minerals and easing restrictions on technology sales.
  • Positive trade developments with China are beneficial for Apple and AAPL shareholders, leading to increased stock prices.

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