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Trump Threatens ‘Massive’ Tariff Hike on China Amid Rare Earths Dispute, Cancels Xi Meeting
President Trump criticized China’s rare earth export controls and threatened a substantial tariff increase, causing US stock indexes to drop by up to 2%, officials said.
- On October 10, 2025, President Donald Trump threatened a `massive increase` in tariffs on Chinese imports and said `there seems to be no reason` to meet Xi Jinping, Chinese President, at the APEC summit in South Korea.
- Under the new rules announced this week, China's Ministry of Commerce requires licences for exports containing more than 0.1% Chinese-sourced rare earths and unveiled measures disrupting global supplies.
- Markets plunged: the S&P 500 Index slid as much as 1.7% and the Nasdaq Composite fell 2.6%, while the two‑year U.S. Treasury yield dropped to 3.522%.
- Analysts cautioned that the move could revive a destabilising tit‑for‑tat trade war paused earlier this year as indexes fell across global markets and four out of every five S&P 500 stocks dropped.
- On Dec. 1 the new rules formally begin, and Trump said on Truth Social `there are many other countermeasures that are, likewise, under serious consideration` amid supply‑chain risks for U.S. technology and defence industries reliant on rare earth elements.
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Trump has threatened higher tariffs to China after the new ban on the export of rare earths. But Beijing has already imposed special licences for mining, refining and production since April.
·Italy
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With reference to the current trade policy of the People's Republic, the US President is making a counterattack. The struggle for a stable government in France is entering a new round.
·Bonn, Germany
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Trump thus realized the threat made hours earlier, when he said he was planning a "massive increase" of tariffs on Chinese products.
Coverage Details
Total News Sources416
Leaning Left64Leaning Right64Center108Last UpdatedBias Distribution46% Center
Bias Distribution
- 46% of the sources are Center
46% Center
L 27%
C 46%
R 27%
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