President Donald Trump has declared a new trade agreement with China, which encompasses the resumption of rare earth mineral exports to the United States and adjustments to existing tariffs.

Under the deal, the U.S. will maintain a cumulative 55% tariff on Chinese goods, while China agrees to a 10% tariff on U.S. products.

Additionally, the agreement ensures continued access for Chinese students to American educational institutions.

The deal awaits final approval from both Trump and Chinese President Xi Jinping.