The U.S.-China trade deal is done—in broad principles at least—and a 55% average levy on Chinese goods is waiting on the horizon, according to statements from Pres. Trump and Commerce Sec. Lutnick following the two-day sit-down of delegations in London. China will impose a 10% tariff on U.S. imports. Trump said the exact terms of the deal would be subject to final approval by himself and the Chinese president Xi, further stating he and Xi will "work closely together to open up China to American trade." White House officials indicated the ... Log in to view full article.