Trump Announces China Trade Deal, Teases ‘Very Big’ Agreement with India

Trump Announces China Trade Deal, Hints at Major Agreement with India.

US President Donald Trump on Thursday confirmed that Washington had signed a new trade agreement with China and suggested that a “very big” deal with India could follow soon. Speaking at the Big Beautiful Bill event, Trump touted recent progress on trade, highlighting the US-China pact and future plans with India.

“Everybody wants to make a deal and be part of it,” Trump said. “We just signed with China yesterday. We’ve got one coming up, maybe with India—a very big one. We’re going to open up India. In the China deal, we’re starting to open up China.”

Trump emphasized that not every country would receive trade concessions, saying, “Some we’re just going to send a letter—‘Thank you very much, you’re paying 25, 35, 45 percent.’ That’s the easy way.”

While Trump did not detail the China deal, a White House official later clarified that the agreement focuses on accelerating rare earth shipments from China to the US—materials crucial to industries like defense, technology, and automotive manufacturing.

“The administration and China agreed to a framework to implement the Geneva agreement,” the official said, referring to efforts to ease export delays caused by Chinese restrictions on critical minerals.

US Commerce Secretary Howard Lutnick added that the US would ease export restrictions once China resumes rare earth shipments: “They’re going to deliver rare earths to us, and once they do, we’ll take down our countermeasures.”

Progress on the Geneva talks, which had previously stalled, now signals renewed cooperation on supply chain stability between the two nations. Meanwhile, optimism is also building over a US-India trade pact. Earlier this month, Lutnick told the US-India Strategic Partnership Forum that both sides are close to finalizing a deal.

“We’re in a very, very good place,” he said. “You should expect a deal in the not-too-distant future. I’m very optimistic.”