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U.S. President Donald Trump takes questions from the media at the White House in Washington, D.C., U.S., May 7, 2025.
Leah Millis | Reuters
U.S. President Donald Trump Wednesday said that China will supply rare earths upfront 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%."
The agreement is subject to final approval with himself and China President Xi Jinping, he said.
Representatives from both sides had on Tuesday revealed that a deal had been reached on trad after a second day of high-level talks in London.
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