Trump: China Must Give US Rare Earth Magnets or Face Higher Tariffs

TaiwanPlus News

US President Donald Trump says China could face further tariffs if it doesn't give the US powerful rare earth magnets, which China has a virtual monopoly over.

Transcript

00:00U.S. President Donald Trump says China must give the United States rare earth magnets

00:04or face steep new tariffs.

00:07But we have a much more powerful thing that's tariffs.

00:10If we want to put 100%, 200% tariffs on, we wouldn't do any business with China.

00:16And, you know, it would be okay too if we had to.

00:18But the magnet situation, we have tremendous power over them

00:23and they have some power over us with magnets.

00:26China holds a virtual monopoly on rare earth minerals,

00:29which can be used for ultra-strong magnets critical for military technology and many electronics.

00:35In April, China restricted exports of some rare earth items and magnets

00:38in retaliation for U.S. tariffs on Chinese goods.

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