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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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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.
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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.
Because of rare earth metals, Trump threatened to cancel a meeting with Xi Jinping and impose high tariffs.
Coverage Details
Total News Sources403
Leaning Left63Leaning Right61Center104Last UpdatedBias Distribution45% Center
Bias Distribution
- 45% of the sources are Center
45% Center
L 28%
C 45%
R 27%
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