Trump Threatens “Massive” Tariffs on All Chinese Imports
▼ Summary
– Donald Trump threatened a “massive increase” on tariffs and may cancel his meeting with Xi Jinping due to China’s “very hostile” trade moves, including rare earths export restrictions and an attack on a US semiconductor company.
– Trump accused China of trying to clog markets by restricting rare earths access and imposing export controls on foreign companies using Chinese rare earth equipment or materials, set to take effect December 1.
– Trump claimed Xi Jinping did not contact him before the restrictions were imposed and that other countries expressed anger at the sudden trade hostility.
– Trump stated there seems to be no reason to meet with Xi now, citing the surprising nature of China’s actions after six months of good relations.
– Trump threatened tariffs and other countermeasures, asserting the US has stronger monopoly positions than China’s rare earths dominance but had not used them until now.
Former President Donald Trump has issued a stark warning to China, threatening a “massive increase” in tariffs on all Chinese imports and raising the possibility of canceling his planned meeting with Chinese President Xi Jinping. This escalation follows what Trump described as “very hostile” trade actions by China over recent days, including aggressive restrictions on rare earths exports and an attack on a major US semiconductor firm.
In a post on his Truth Social platform, Trump accused China of attempting to disrupt global markets by limiting access to rare earth minerals and imposing export controls on foreign companies that rely on Chinese rare earth equipment or materials. These new regulations are scheduled to take effect on December 1, a timing that many analysts believe is intended to strengthen China’s negotiating position ahead of the anticipated Trump-Xi trade talks in South Korea two weeks from now.
Trump emphasized that President Xi did not communicate with him before announcing the restrictions. He also stated that other nations have reached out to the United States, expressing shared frustration over what he called an unexpected and aggressive trade maneuver.
Reflecting on recent diplomatic relations, Trump noted that the US-China relationship had been positive over the last six months, making Beijing’s latest actions all the more surprising. He questioned the purpose of meeting with Xi under these new circumstances, suggesting there now appears to be little reason to proceed with the summit.
While tariffs were his immediate response, Trump indicated that additional countermeasures are being seriously evaluated. He accused China of exploiting its dominant position in the rare earths market, where it controls roughly 70 percent of global supply, and countered by asserting that the United States holds monopoly advantages of its own, which he described as stronger and more extensive.
Trump concluded by declaring that he had previously refrained from leveraging these US strengths, but that China’s recent behavior has created a new and urgent reason to do so.
(Source: Ars Technica)
