Dealing recent “hostile” export controls to rare mineral land, US President Donald Trump stated that he sees ‘no reason’ to meet with the Chinese president Si Jing and threatened with a “mass increase” of tariffs on products from China.
“I was going to meet President Xi Jing in two weeks in APEC, South Korea, but now there seems to be no reason to do so,” Donald Trump wrote on Friday (10.10.25) on social media, according to Bloomberg.
The President added that a countermeter considering the US “It is a massive increase in duties in Chinese products entering the United States of America”adding that “There are many other countermeasures that are also seriously examined”.
The announcement calls not only the agenda of Trump’s scheduled trip to Asia, which included a meeting with SI later this month at the Asia -Pacific Summit this month, but also the future of negotiations on China’s refusal to buy China.
The shares reversed the previous profits and soy expanded its losses after Trump’s post, which heralded new commercial tensions between the world’s two largest economies.
The post comes after a series of moves from both the US and China to limit the flow of technology and materials between countries all in view of the scheduled meeting of presidents in Asia later this month.
In the most recent action, China has imposed new port fees on US ships and launched an investigation into the antitrust law against Qualcomm after new efforts to limit the flow of rare land required for many consumer products.
China has demanded this week by foreign exporters of products using even traces of some rare earths to obtain an export license, according to the Ministry of Commerce, citing national security concerns. Some equipment and technology for the processing of rare land and the construction of magnets will also be subject to checks, the ministry said in a separate announcement.