• US and China reach a framework deal to ease trade tensions following talks in London.
• President Trump announces the trade agreement is "done," pending approval from both leaders.
• US tariffs on Chinese goods to remain at 55%, while China will impose a 10% tariff on US imports.
• China will supply magnets and rare earth minerals to the US as part of the deal.
• The agreement includes provisions for Chinese students to continue their education in the US.

Following two days of negotiations in London, US and Chinese officials announced a framework agreement aimed at easing ongoing trade tensions. US Commerce Secretary Howard Lutnick confirmed the deal, stating it incorporates elements from previous discussions in Geneva while establishing a pathway forward on critical issues such as tariffs and export controls, particularly on rare earths and magnets, essential to the US industry, according to India Times and TRT Global.

President Trump declared the agreement a "done deal" via his Truth Social account, highlighting that the US will maintain a 55% tariff on Chinese imports, while China will impose a 10% tariff on US goods. Additionally, Trump mentioned that China would supply magnets and necessary rare earth minerals upfront, addressing a significant concern for American manufacturing, as reported by Channel News Asia and Defense One.

As part of the deal, the US will also allow Chinese students to continue their studies at American universities, reversing earlier restrictions. Both parties expressed optimism about the negotiations, with Trump's bold claims drawing a mix of skepticism and support from various economic analysts and stakeholders, according to Los Angeles Times and Anadolu Agency.

Challenges remain, particularly around China's control of the rare earth supply chain and the implications of high tariffs which may affect trade volumes and inflation in the US. Critics argue the deal does not sufficiently address long-standing issues, such as technology transfer and intellectual property protections, which continue to complicate the relationship between the two nations, as highlighted by Reuters and South China Morning Post.