US to get rare earths upfront as Trump unveils 55% China tariff plan

U.S. President Donald Trump announced a tentative trade framework with China that includes upfront deliveries of critical rare earth minerals and industrial magnets to the U.S. supply chain, alongside a total tariff rate of 55 percent on Chinese imports. This deal also involves the U.S. honoring prior commitments related to Chinese students studying in American institutions, marking a reversal from recent stricter policies. Trump touted the agreement as a "great WIN" for both countries, emphasizing closer trade collaboration with Chinese President Xi Jinping. However, officials clarified that the 55 percent tariff figure consolidates existing duties rather than representing a new increase from the previous 30 percent rate. The announcement follows quiet negotiations in London aimed at reviving talks after months of trade tensions marked by escalating tariffs and retaliations. While the deal offers temporary clarity on rare earth supplies—vital for manufacturing electric vehicles and defense equipment—it also underscores the volatility of Trump’s trade strategy, which has fluctuated between tariff hikes and reversals. Despite ongoing legal challenges,