President Trump says US-China trade deal is ‘done’ pending presidential approval

U.S. President Donald Trump
American President Donald Trump posted on Truth Social Wednesday, stating, “our deal with China is done, subject to final approval with President Xi and me.” This follows two days of negotiations in London and a phone call last week between President Trump and Chinese President Xi Jinping. “We have reached a framework to implement the Geneva consensus,” Commerce Secretary Howard Lutnick said.
President Trump via Truth Social:
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OUR DEAL WITH CHINA IS DONE, SUBJECT TO FINAL APPROVAL WITH PRESIDENT XI AND ME. FULL MAGNETS, AND ANY NECESSARY RARE EARTHS, WILL BE SUPPLIED, UP FRONT, BY CHINA. LIKEWISE, WE WILL PROVIDE TO CHINA WHAT WAS AGREED TO, INCLUDING CHINESE STUDENTS USING OUR COLLEGES AND UNIVERSITIES (WHICH HAS ALWAYS BEEN GOOD WITH ME!). WE ARE GETTING A TOTAL OF 55% TARIFFS, CHINA IS GETTING 10%. RELATIONSHIP IS EXCELLENT! THANK YOU FOR YOUR ATTENTION TO THIS MATTER!

Trump added in a separate post on Truth Social:
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Adding to the China readout, President XI and I are going to work closely together to open up China to American Trade. This would be a great WIN for both countries!!!

Greg Norman for FOXBusiness:
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Lutnick reportedly said he expects Trump to approve the agreement as soon as Wednesday, noting”I feel really good about where we got to.” Senior Chinese negotiator Li Chenggang also said both the U.S. and China “agreed in principle,” The Wall Street Journal reported.
The newspaper said a key goal for the American negotiators led by Lutnick and Treasury Secretary Scott Bessent was to encourage Beijing to accelerate their exports of rare-earth minerals and magnets that contain them.
Meanwhile, Beijing’s negotiators asked the U.S. to ease restrictions on the sale of technology and other goods to China, it added, citing people familiar with the matter.

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MacDailyNews Take: Clearly any positive development in U.S.-China trade is also a positive for Apple and AAPL shareholders, both of whom could use something positive this year. Apple’s share price and U.S. stock futures are all up on the news.

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