US President Donald Trump says on his social media site that “there seems to be no reason” to meet with Chinese leader Xi Jinping as part of an upcoming trip to South Korea after China has restricted exports of rare earths needed for industry in the United States.
Trump suggested that he was looking at a “massive increase” of import taxes on Chinese products in response to Xi’s moves.
“One of the Policies that we are calculating at this moment is a massive increase of Tariffs on Chinese products coming into the United States of America,” Trump posted on Truth Social.
“There are many other countermeasures that are, likewise, under serious consideration.”
He added that he had not spoken to Xi because there was no reason to do so.
“This was a real surprise, not only to me, but to all the Leaders of the Free World.”
The United States and China had both agreed this earlier this year to ratchet down tariffs after negotiations in Switzerland and the United Kingdom yet tensions remain as China has sought to restrict US access to the difficult-to-mine rare earths needed for a wide array of US technologies.
Trump said that China is “becoming very hostile” and that it is holding the world “captive” by restricting access to the metals and magnets used in electronics, computer chips, lasers and other technologies.
with Reuters
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