WASHINGTON, JUN 12 (WAM/APP/DNA):President Donald Trump announced that the United States will get magnets and rare earth minerals from China under a new trade deal and that tariffs on Chinese goods will go to 55%.

In return, Trump said the US will provide China “what was agreed to,” including allowing Chinese students to attend American colleges and universities. He wrote on social media that a trade deal with China is “done.”

This comes after the US and China announced after two days of high-level talks in London this week that they are returning to a trade framework they reached last month in Geneva, Switzerland.

China said its talks with the U.S. were “reasonable” and “frank.”

China reiterated that the two sides should act in the same direction, keep their promises and fulfill their actions, show the spirit of integrity in abiding by their commitments and the efforts to implement the consensus,” China’s state news agency Xinhua wrote after the London talks.