US President Trump To Add 100% Tariffs On China Over Rare Earth Export Controls

TaiwanPlus News

US President Donald Trump says he will impose an additional 100 percent tariff on Chinese goods after Beijing tightened export controls on rare earths.

Transcript

00:00U.S. President Donald Trump says he'll impose an additional 100% tariff on Chinese goods

00:06after Beijing tightened export controls on rare earths, a move Trump called a moral disgrace in

00:12dealing with other nations and said came as a shock. We said, where did that come from? It was

00:17just, that was out of the blue, right? Out of the blue, they came up with this whole import-export

00:24concept and nobody knew anything about it. Rare earths are naturally abundant materials used in

00:32everything from smartphones to weapons. They're critical for manufacturing many U.S. technologies

00:37and China dominates their processing and refining at about 90%. In retaliation for China restricting

00:44access to these key minerals, Trump is imposing a 100% tariff on Chinese goods on top of the

00:51existing 30% starting November 1st. Trump said the U.S. will also impose export controls on

00:58quote, any and all critical software. This latest escalation between the world's two largest

01:03economies has also cast doubt on a meeting between Trump and Chinese President Xi Jinping that was

01:09expected to take place on the sidelines of the APEC summit in South Korea in just a few weeks.

01:15On social media, Trump said he didn't see any reason to meet with Xi anymore,

01:19though he later appeared to walk back that statement.

01:22I just want to confirm, have you canceled your meeting with President Xi and...

01:26No, I haven't canceled, but I don't know that we're going to have it,

01:28but I'm going to be there regardless, so I would assume we might have it.

01:32All this, a revival of the trade war between China and the U.S., appearing to undo a period of

01:38ease tensions as both sides lowered their tariffs during trade talks and throwing into question

01:44future relations between the two sides.

01:46Devin Tsai and Cadence Granta for Taiwan Plus.

Category

Transcript

Be the first to comment

Recommended