US EditionChina warns US of countermeasures if Trump doesn’t walk back 100% tariff threat
- On Oct. 10, President Donald Trump announced an additional 100 percent tariff on Chinese goods and export curbs on `any and all critical software`, effective Nov. 1.
- China’s Ministry of Commerce on Oct. 9 announced expanded export controls to rare earths, magnets, alloys, batteries, and products with 0.1 percent Chinese-sourced rare earths, requiring permits, traceability, and denying licenses for military users.
- Dominance in rare earths means China controls about 70 percent of mining and over 90 percent of processing and rare earth magnet manufacturing globally, essential for mobile phones and electric vehicles.
- Market and industry fallout included stock market investors losing roughly 3% on Friday as American automakers halted operations and supply chains were crippled while U.S. soybean farmers lost a major buyer.
- On Oct. 10, President Donald Trump posted denouncing China and suggested canceling his meeting with Xi Jinping at the APEC summit; China said restrictions will phase in from December 1 for foreign-made goods incorporating Chinese-origin rare earths.
185 Articles
185 Articles
China signals countermeasures over Trump 100% tariff increase
China signaled Sunday that it would pursue countermeasures in response to President Donald Trump’s threat to implement a 100% tariff increase, which threatens to derail months of progress in trade talks between the two nations. China imposed export restrictions on rare earth minerals last week, prompting Trump to float the possibility of raising tariffs. The country vowed to stand firm against the United States. “Resorting to threats of high tar…
Beijing promised retaliatory measures against Washington if U.S. President Donald Trump fulfills his threat of imposing new 100% tariffs on Chinese imports.
US President Donald Trump has responded to Beijing's new export controls for rare earths with the announcement of additional duties of 100 percent. The Chinese government wants to resist.
China accused the United States of "two weights, two measures", after the announcement of additional customs duties of 100% on its goods.
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