The Fascist Felon announced Wednesday that the United States will get magnets and rare earth minerals from China under a new trade deal and that tariffs on Chinese goods will go to 55%. In return, Trump said the U.S. will provide China “what was agreed to,” including allowing Chinese students to attend American colleges and universities.
U.S. President Donald Trump on Wednesday said China will supply rare earths up front to the U.S. as part of a trade agreement.
The relationship between the world’s two largest economies is “excellent,” Trump said in a post on Truth Social, while adding, “WE ARE GETTING A TOTAL OF 55% TARIFFS, CHINA IS GETTING 10%.”
He added that magnets and “any necessary rare earths” will be supplied up front by China and that the U.S. will in turn make certain concessions such as allowing Chinese students to attend U.S. colleges and universities.
The agreement is subject to final approval with himself and China President Xi Jinping, the U.S. president said, adding he intends to work closely with Xi to open up China to American trade, describing the prospect as “a great WIN for both countries!!!”
Inflation is holding steady as Trump’s tariffs have yet to fully hit
Inflation showed little change last month as President Trump’s tariffs have so far not had a big effect on the prices that American shoppers pay.
Consumer prices in May were up 2.4% from a year ago, according to a report Wednesday from the Labor Department. That’s a slightly larger annual increase than the month before.
But prices rose just 0.1% between April and May — down from 0.2% the month before. Falling gasoline prices helped to offset the rising cost of rent and groceries
