Trade Deal Between U.S. and China

SOURCE www.npr.org
President Trump announces a trade deal with China is "done" after high-level talks in London. Base American tariffs on Chinese goods will increase to 55% and Chinese tariffs on American goods will be set at 10%. China to supply rare earth minerals upfront as part of the agreement. Trump reverses decision on revoking visas for Chinese students connected to the Chinese Communist Party.

Key Points

  • Base tariffs on Chinese goods to increase to 55%
  • China to supply rare earth minerals upfront
  • Reversal on revoking visas for Chinese students connected to the Chinese Communist Party

Pros

  • Trade deal reached between the U.S. and China
  • Base American tariffs on Chinese goods to increase to 55%
  • China to supply rare earth minerals upfront

Cons

  • Cumulative customs levies imposed by both countries reached as high as 245% before the trade truce
  • Reversal on revoking visas for Chinese students with connections to the Chinese Communist Party