Trump announces 100% tariffs on China after Beijing tightens controls on rare earths

BarcelonaUS President Donald Trump has decided to reignite the trade war with China. This Friday, he announced that he will impose 100% tariffs on the Asian giant starting November 1st. This is his response to Beijing's recent actions, which include more controls on the export of rare earths. According to the Republican leader, these are "very hostile" initiatives, and for this reason, he has even questioned the opportunity to meet with Chinese President Xi Jinping at the end of the month, as planned.

Trump thus specifies the threat he had issued hours earlier, through the Truth Social network, where he stated that "very strange things are happening in China." He said this after the Asian giant announced its intention to impose export controls on all production elements related to rare earths, "and practically anything else you can think of, even if it's not made in China," Trump complained.

Letters in different countries

"They are becoming very hostile," the US president stated, after Beijing sent letters to countries around the world detailing the affected elements. In Trump's opinion, this measure would congest markets and make life difficult in virtually every country in the world, especially China. "Depending on what China says about the hostile 'order' you have just spread, I will be forced, as President of the United States of America, to financially counter their action," the US president told Truth Social. He added: "I was supposed to meet with President Xi in two weeks at APEC in South Korea, but now it seems there is no reason to do so."

"China must not be allowed to keep the world captive, but this seems to have been their plan all along," the US president stressed, referring to Beijing's maneuvers regarding rare earths and other elements that China has allegedly accumulated "until achieving a kind of monopoly, a rather sinister and hostile maneuver, to say the least," which the United States has also hesitated to notice. of greater scope than those of the Asian country. "I simply have not chosen to use them; I never had a reason to do so, until now!" he added.

"I never thought it would come to this, but perhaps, as with everything, the time has come," he assured, adding that beyond tariffs "there are many other countermeasures that are also being considered." The stock market has suffered its worst fall since April, with losses of up to 3.56%.