Trump threatens China with new import tariffs

The trade war between China and the United States is likely to reach a new level of escalation, according to a statement by Donald Trump on the social network Truth Social.

According to the American president, China has begun sending letters to other countries warning them of its decision to take strict control of export supplies of rare earth metals.

Trump believes that China's decision could block global markets and "make life difficult for almost every country in the world, especially China."

China should not be allowed to hold the world "hostage", but it seems that this has been their planned strategy for a long time (...) A very sinister and hostile move, to put it mildly.

Donald Trump

President of the United States

He noted that the US "also has monopoly positions," and "much stronger and more extensive" than China's. Trump assures that so far he has been restrained in his trade policy towards China, but now he intends to act more harshly.

I will be forced, as President of the United States, to financially counter their move. For every element they have been able to monopolize, we have two. I never thought it would come to this, but perhaps, as with all things, the time has come. In the end, while it may be painful, it will prove to be very beneficial for the United States.

According to him, the option of "massive" increases in tariffs on Chinese goods entering the United States is currently being considered. But "there are many other countermeasures that are also under serious consideration," the US president said.

I was planning to meet with President Xi in two weeks at the APEC summit in South Korea, but now it seems unnecessary.