With a new ‘mass increase’ of duties in imported products from China threatens the Donald Trump. The reason for the “explosion” of the US president is the controls that Beijing has called for in rare land exports.
In addition, the Donald Trump made it clear that there is no reason to meet with the president of China, Si Jing in two weeks in South Korea, as planned.
The US president argued that China “becomes very hostile”, referring to the letters sent by Beijing to the world with which it informs that it plans to impose strict controls on rare land exports.
“No one has seen anything like this but, in essence, it will cause congestion in the markets and make life difficult for all countries of the world, especially for China,” Trump said in a post on the Truth Social platform. He added that “he will be forced to fight financially” in China after these restrictions and one of his choices is the “massive” increase in tariffs on imported Chinese products.
Trump said he had not spoken to Si Jinping because “there is no reason to do it”.
The New York Stock Exchange fell after Trump’s threat of new tariffs on Chinese products. The key indicators rose to the start of the session, but shortly thereafter the Dow Jones industrial index fell 0.30%, the NASDAQ Nasdaq index by 0.86%and the enlarged S&P 500 index by 0.50%.
On October 9, Beijing announced that it will apply, with immediate effect, new reinforced controls on rare -related technology exports, a sector at the center of its collision with the US and the EU. field.