U.S. President Donald Trump took to his social media platform, Truth Social, on Wednesday to proclaim that a deal with China was “done,” pending final approval from himself and Chinese president Xi Jinping.

Beijing has gained time to build up its own strengths by drawing out negotiations with the United States, using its chokehold over critical minerals.

Billions of dollars of Chinese goods have been impacted by additional U.S. tariffs since 2018, initially under the first Donald Trump presidency and later under the Biden administration. Returning to the White House this year,