Trump threatens China with 100% tariffs - The move comes after Beijing restricted exports of rare earth metals
US President Donald Trump has threatened to impose an additional 100% tariff on Chinese imports starting November 1, or even earlier, risking escalating trade tensions between the two countries.
In a post on the Truth Social network, Trump also stated that his administration "will place restrictions on the export of any type of critical software."
The move came after China imposed new restrictions on the export of rare earth metals, which are essential for the production of a range of equipment, from aircraft engines, radar systems and electric vehicles, to consumer electronics such as laptops and phones.
The US leader called China's decision "extremely hostile" and suggested he might cancel a planned meeting with Chinese President Xi Jinping later this month in South Korea. He later told reporters that the meeting had not been canceled, but added: "I don't know if it's going to happen. I'll be there anyway, so I suppose it could happen."
China accounts for nearly 70% of the world's production of rare earth metals and controls about 90% of their global processing. Access to these materials is a key point of trade disputes between Washington and Beijing. The new export restrictions require foreign companies to obtain special approval to export these metals outside of China.
Beijing also imposed special permits for the export of technologies used in the extraction, smelting and recycling of rare metals, and announced that any export requests related to military products would be rejected.
Trump said China is holding the world "hostage" by restricting access to metals and magnets needed for various technologies, including computer chips, lasers, aircraft engines and electronic devices.
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