Tariff: Trump says he closed agreement with China, but waits “ok” by Xi

The agreement between the United States and China is close to being fulfilled. At least that’s what the US President Donald Trump appointed on Wednesday (11) on his social networking social network. The agent highlighted in the post that tariffs should be 55% for Chinese products imported by their country, while US products will have 10% tariffs when they enter China.

According to Trump, who said the relationship is “excellent,” the agreement is subject to his approval and Chinese President Xi Jinping. He also stressed that it was agreed that Chinese students can attend Universities in the United States, while China will restore the supply of rare land and minerals, essential for industry and technological products.

Read more: Trump resumes tariffs and doubles taxation on steel and aluminum

So far, the statement had no comment from Beijing, and Trump awaits Xi’s “OK”.

Trump’s announcement happens after negotiators from the countries were gathered for two days in London (UK). On Tuesday (10), at the end of the meeting, interlocutors stated that there was an agreement referred, but did not give details.

Commercial War

Since Trump started a trade war with “reciprocal tariffs” against several countries, one of the main targets has been China. The “tariff” about Chinese products reached 145%, which generated a reaction in which the Chinese accounted for a 125%rate.

The situation, which practically unfeasible the business relationship, had to be circumvented to avoid further damage to countries. Thus, a truce was signed in May in Switzerland, and the suspension of the astronomical tariffs for 90 days was settled in it. During this period the rate of 145% on Chinese products fell to 30%, while the US products exported to the Asian giant went from 125% to 10%.

In the meantime, the president of the United States has created barriers to prevent foreign student enrollment at Harvard University, the best in the world in various rankings. The action is part of a broader Trump government strategy to make it difficult to enter students from other countries. At the moment, the case is in court and the issuance of visa for students from outside was resumed.

A form of Chinese reaction to attacks that reach trade and students was to reduce the pace of selling metals and rare lands, fundamental components in the composition of electric motors, electronic products and high performance magnets. The answer bothered US entrepreneurs, who pressed the White House for a solution.