President Donald Trump announced that the U.S. will get magnets and rare earth minerals from China under a new trade deal.

President Donald Trump said on Wednesday the U.S. deal with China is done, with Beijing to supply magnets and rare earth minerals while the U.S. will allow Chinese students in its colleges and universities.

U.S. President Donald Trump says the U.S. will get magnets and rare earth minerals from China in a deal and tariffs on Chinese goods are going to 55%. Several global brands are among dozens of companies at risk of using forced labor through their Chinese supply chains because they use critical minerals or buy minerals-based products