China-U.S.: Beijing warns of retaliation over Trump's 100% tariff threat

China warns of retaliation against Donald Trump's threat of new levies on its imports, accusing the U.S. of double standards.

Transcript

00:00China warns it will retaliate against any new U.S. tariffs,

00:04signaling it is not afraid of a possible trade war.

00:08The warning comes after President Donald Trump threatened to impose a 100% tariff

00:14on Chinese goods from November, which Beijing called a typical example of U.S. double standards.

00:23The latest 100% duty would effectively reinstate a trade embargo lifted earlier this year.

00:30The latest flare-up began Thursday when China expanded controls on rare-earth exports,

00:35prompting a sharp countermeasure from Trump.

00:37U.S. Treasury Secretary Scott Besson said on Monday that both sides held substantial

00:42communications over the weekend, and Trump is on track to meet Chinese leader Xi Jinping

00:47in South Korea end of the month to ease trade tensions.