Trump says China tariffs will stay high after two days of talks

The U.S. will keep high tariffs on Chinese goods, President Donald Trump announced, touting a framework that he and Chinese President Xi Jinping will need to OK.

The U.S. will keep tariffs high on Chinese goods, President Donald Trump said Wednesday morning, touting a preliminary trade agreement that he and Chinese President Xi Jinping will need to approve.

China will supply rare-earth minerals and magnets “up front,” Trump said in a post on his Truth Social platform, although he didn’t clarify the exact terms. Trump also said, without explaining further, that “we are getting a total of 55% of tariffs, China is getting 10.”

A White House official told NBC News that the 55% figure isn’t new, as it reflects the 30% tariffs Trump added this year in addition to pre-existing duties totaling 25%.

On CNBC, Commerce Secretary Howard Lutnick said tariff rates applied by the U.S. on Chinese imports likely would not change from here. However, the president has changed tariff rates on China at least three times since April 2.

Xi Jinping and Donald Trump in Beijing on Nov. 9, 2017.Nicolas Asfouri / AFP - Getty Images fileThe president’s announcement came the morning after top-level U.S. and Chinese officials wrapped up two days of negotiations in London that were meant to get a trade truce, originally brokered in Geneva last month, back on track.