• Source:JND

US President Donald Trump on Friday sharply criticised China over its recent restrictions on rare earth exports, calling the move a “hostile trade offensive” and suggesting that he may impose new tariffs on Chinese products. Trump, writing on his social media platform Truth Social, said there was “no reason” to meet Chinese President Xi Jinping during the upcoming APEC summit in South Korea.

Trump accused Beijing of attempting to “hold the world captive” by limiting exports of critical materials, including rare earths and magnets essential for manufacturing, electronics, and advanced technology. “Some very strange things are happening in China! They are becoming very hostile, and sending letters to countries throughout the world about imposing export controls on every element related to rare earths,” Trump wrote.

The US President described China’s actions as “a rather sinister and hostile act” that could disrupt global supply chains and impact nearly every country relying on these strategic materials.

Meeting With Xi Jinping In Question

Trump also stressed that the United States maintains “much stronger” monopoly positions in other strategic sectors but has thus far refrained from using them. However, in response to China’s restrictions, he indicated that financial countermeasures, including a “massive increase of tariffs” on Chinese imports, are being considered. “One of the policies we are calculating at this moment is a massive increase of tariffs on Chinese products… there are many other countermeasures under serious consideration,” Trump said.

The US President said that he had initially planned to meet President Xi Jinping at the APEC summit in South Korea. However, following Beijing’s letter on export controls, he suggested there was now “no reason” to proceed with the meeting. Trump added that the letter was a “real surprise… not only to me, but to all the leaders of the Free World.”

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Global Implications Of China’s Move

China dominates global production of rare earth elements, which are crucial for electric vehicles, defense technologies, and electronics. Any limitation on exports could have significant repercussions for international markets. Trump noted that other nations had already reached out to express concern about China’s actions, emphasizing that “things that were routine are no longer routine at all.”

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Concluding his post, Trump reassured that the US possesses “two of every element China has monopolized” and would act decisively to counter any economic coercion. “Ultimately, though potentially painful, it will be a very good thing in the end for the USA.,” he said.