Trump Threatens 200% Tariff on China Over RareEarth Magnet Supply
If Beijing is unable to provide rareearth magnets, which are essential parts for defence systems, electric cars, and smartphones, U.S. President Donal
If Beijing is unable to provide rareearth magnets, which are essential parts for defence systems, electric cars, and smartphones, U.S. President Donald Trump has threatened to raise tariffs on Chinese goods by 200%. Despite a 90day tariff truce between the United States and China that was agreed to on August 12, the warning was given before his meeting with South Korean President Lee Jae Myung. Trade tensions have escalated due to the recent tightening of export regulations by China, the worlds largest producer of rareearth elements. Trumps remarks, which have not yet received an official response from Beijing, indicate a tough posture during precarious discussions. The threat complicates the already tense U.S.China trade relationship by bringing up issues with global supply chains and perhaps inciting retaliatory actions.
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B2B Tech News | 6 days ago