President Trump says trade deal with China is done

(NBC, KYMA/KECY) - The United States has apparently reached a trade deal with China, according to a social media post from President Donald Trump Wednesday morning.

The post read in part, "Our deal with China is done, subject to final approval with President Xi and me."

The deal was apparently reached following high level talks between representatives of both countries in meetings in London.

U.S. Commerce Secretary Howard Lutnick has also confirmed a framework of a deal is in place and signals a commitment to de-escalate tension between the two countries.

Lutnick has also indicated that U.S. restrictions on advanced tech sales to China would be rolled back as Beijing approves rare earth exports.

President Trump wrote in his post saying, "We are getting a total of 55% tariffs, China is getting 10%. Relationship is excellent."