Bankinter: Principle of a trade agreement between the US and China. Trump announced yesterday an agreement whereby China will supply the US with minerals and rare earths in exchange for allowing its students access to American universities. The US will levy a 55% tariff on imports from China (current 25% + 10% base rate + 20% for fentanyl trade) and China will apply a 10% tariff on US imports. The deal is subject to approval by the Chinese president.
Analysis team’s view: Positive news, although it should not be considered firm until the Chinese leader ratifies the agreement announced unilaterally by Trump.
