US EditionTrump says China has to give US magnets or face 200% tariff
President Trump warned China that failure to supply rare earth magnets, which represent 90% of the global market, could trigger 200% tariffs amid trade tensions.
- On Monday, President Donald Trump warned Beijing it must supply rare earth magnets or face tariffs as high as 200 percent during a Washington meeting with South Korean President Lee Jae Myung, referencing talks with Xi.
- Earlier this year, punitive tariffs disrupted global supply chains, but in May Washington and Beijing scaled U.S. duties to 30 percent and China cut its levies to 10 percent.
- Data show Beijing dominates the magnet market and chips rely on those materials; Beijing supplies about 90 percent of the global magnet market, crucial for Intel, and rare earth exports surged in July by more than 4,700 tonnes.
- An executive order extended the 90-day tariff deadline as President Donald Trump signed it to allow more negotiations, preventing tariffs from jumping to 145 percent.
- Amid talks that showed signs of easing, the tariff threat persists as President Donald Trump voiced warming ties with Beijing and said, `At some point, probably during this year or shortly thereafter, we’ll go to China`.
32 Articles
32 Articles
US threatens 200% tariffs if China maintains ban on exports of magnets; here's why they matter
US President Donald Trump has threatened a whopping 200 per cent tariffs on China if Beijing continues to restrict export of rare earth magnets. "We have a very strong relationship economically with China. They have to give us magnets. If they don’t, we charge a 200% tariff or something ... .China intelligently went in and they sort of took a monopoly of the world's magnets. Nobody needed magnets until they convinced everybody 20 years ago, 'let…
Trump Says China Has to Give US Magnets or Face 200% Tariff
'Give US magnets or face 200% tariff': Trump's stern warning to China
Donald Trump issued a stern warning to China on Monday (August 25), stating that either they provide America with magnets or face a 200 percent tariff. This came amid his visit to China that he said would be this year or soon.
Washington. US President Donald Trump threatened China on Monday to impose tariffs of around 200% on Chinese products entering the United States if Beijing does not accelerate its exports of rare earth magnets. “They have to give us magnets,” Trump said. “If they don’t give them to us, then we’ll have to charge them a 200% tariff or something like that. But I don’t think we’re going to have a problem with that,” the U.S. president added in the p…
Coverage Details
Bias Distribution
- 47% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
