Duties, US and China reach agreement. Rare earths also at the center of the agreement

Agreement between the United States and China on tariffs.

In London, delegations from Washington and Beijing signed a “framework agreement” that provides for tariffs to remain at the same level as those established in recent weeks in Geneva, when the US committed to reducing tariffs on Made in China to 30% and China to 10%.

US President Donald Trump, in a post on Truth, imposed duties of 55%, but according to what an official of the American administration explained to the Wall Street Journal, this percentage would be the sum of the Geneva tariffs (20% on fentanyl, the 10% tariffs applied to all countries and those applied by the president to Beijing during his first term.

Trump also said in his post that the United States will receive magnets and rare earth minerals from China and that it will give China “what they agreed upon,” including allowing Chinese students to attend American universities.

(Online Union)