is a news writer who covers the streaming wars, consumer tech, crypto, social media, and much more. Trump announced the news of the agreement on Truth Social, which he says is still “subject to final approval” by himself and Chinese President Xi Jinping. As noted by NBC News, the 55 percent figure isn’t new, and includes the 30 percent tariffs Trump introduced earlier this year, along with a pre-existing 25 percent tax. China will also implement a 10 percent tariff on US goods under the agreement. But now — at least according to Trump and his administration — the US and China are finally on the verge of an agreement.