China has confirmed its commitment to a new trade agreement with the U.S., announced by President Donald Trump, emphasizing both nations should honor the consensus reached during a recent phone call between Trump and Chinese President Xi Jinping. The deal marks a temporary truce in the long-running U.S.-China trade war.
“China has always kept its word and delivered results,” said Chinese Foreign Ministry spokesperson Lin Jian. “Now that a consensus has been reached, both sides should abide by it.”
The agreement follows renewed tensions after a Geneva deal stumbled due to China’s restrictions on mineral exports. In response, the U.S. imposed export controls on key technologies like semiconductor software and aircraft components.
Trump expressed satisfaction with the outcome, stating on Truth Social, “Our deal with China is done, subject to final approval with President Xi and me.” He confirmed China will supply rare earth minerals, including magnets, while the U.S. will honor its commitments, such as allowing Chinese students to study in American universities.
Trump also revealed the tariff structure under the new deal: a total of 55% on Chinese imports, combining a 10% base tariff on all partners, an additional 20% targeting fentanyl-related imports from China, and a pre-existing 25% tariff from his first term.
Details on implementation remain vague, and China’s commerce ministry has not disclosed how many export licenses will be issued for rare earths this week. However, ministry spokesperson He Yadong stated China is open to dialogue and aims to support compliant trade.
The renewed deal could reshape global trade dynamics and ease tensions, but clarity on enforcement and specifics will be key to long-term stability between the world’s two largest economies.