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Trump's China Deal: 55% Tariffs and Student Exchanges

6/12/2025

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Summary

Story summary

President Donald Trump has struck a significant deal with China, raising tariffs on Chinese goods to 55% while securing access to vital magnets and rare earth minerals. In a reciprocal move, the U.S. will welcome Chinese students into its colleges. Meanwhile, Treasury Secretary Scott Bessent is set to testify before a House committee at 10 a.m. ET.

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Story summary

President Donald Trump has struck a significant deal with China, raising tariffs on Chinese goods to 55% while securing access to vital magnets and rare earth minerals. In a reciprocal move, the U.S. will welcome Chinese students into its colleges. Meanwhile, Treasury Secretary Scott Bessent is set to testify before a House committee at 10 a.m. ET.