US President Donald Trump has announced a major breakthrough in trade relations with China, confirming that a new deal includes guaranteed upfront delivery of rare earth elements to the United States and a renewed visa pathway for Chinese students. Posting on Truth Social, Trump declared the agreement “done,” pending final approval from Chinese President Xi Jinping and himself. He emphasized that under the terms, the US would receive “full magnets and all necessary rare earth materials” while allowing Chinese nationals to study at American universities.

Trump also revealed that, as part of the agreement, the US would maintain a 55% tariff rate on specific Chinese imports, while China would impose only a 10% tariff on select American goods. He described the current state of US-China relations as “excellent,” calling the student exchange beneficial for both sides. The deal revives stalled negotiations that had faltered in May over China’s rare earth export restrictions, a crucial component in manufacturing and defense sectors.

China’s Vice Premier earlier expressed Beijing’s readiness to enhance cooperation, and both sides confirmed progress toward reviving the previously derailed tariff truce. This announcement follows a framework agreement discussed in Geneva last month and recent bilateral meetings in London, where rare earth exports remained central to trade talks. US Commerce Secretary Howard Lutnick praised the new framework for putting “meat on the bones” of prior agreements.

While optimism is growing, Trump made it clear that final signatures are pending. Still, the rare earth supply assurance and student visa access suggest significant strides in easing tensions and setting a new tone for strategic economic engagement between the two global powers.