Babe, wake up. Donald Trump just posted about tariffs again.

What's up guys? Welcome back to Built by Business with Andy Isum.

We have another tariff update for you guys. Big news just dropped somewhat unexpectedly yesterday with Donald Trump announcing a trade deal with China.

Trump posted on his truth social platform, quote,

Our deal with China is done subject to final approval with President Xi and me, full magnets,

and any necessary rare earths will be supplied up front by China. Likewise, we will provide to

China what was agreed to, including Chinese students using our colleges and universities,

which has always been good with me.

We are getting a total of 55% tariffs. China is getting 10%. Relationship is excellent.

Thank you for your attention to this matter. Of course, in all caps.

If you weren't already up to date on the China trade negotiations,

we were currently in a 90-day reduction of the astronomical reciprocal tariffs with China,

and we're sitting at a, what we could say, comfortable, 35% tariff until I think it's around mid-July.

But apparently we have a new deal in place.

Now, details as to when the 55% tariffs will go into effect are a little fuzzy right now. So I'll make sure to keep you guys updated when we have a hard release from the White

House on those implementations of those tariffs. But Donald Trump has stated there will be a

55% tariff on Chinese imports. The structure compromises a 10% basic reciprocal tariff,

an additional 20% for fentanyl- related concerns, and a 25% continuation of

existing tariffs bringing us to 55%. And again, according to the official, China would implement

a 10% duty on American imports. Now, there previously was a restriction on rare earth exports from China

during this little trade war, but that seems to have been resolved with this new agreement.

So China will now start supplying magnets and rare earths, and in return, the U.S. will be,

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