President Donald Trump is hailing the latest trade framework with China as a game-changing breakthrough. Yet the deal he touted Wednesday represents little more than a reset back to earlier terms — and even that came at a cost.

President Trump told a reporter on Wednesday the United States is currently in trade negotiations with "around 15 countries" including Japan and South Korea just days after he said he had reached a new trade agreement with China.

The deal removes Chinese export restrictions on rare earths minerals and allows Chinese students access to U.S. universities.