China Says It’s ‘Not Afraid’ Of Trade War After Trump Threatens 100% Tariffs

Benzinga

China said it’s “not afraid” of a trade war after Trump’s 100% tariff threat, defending its rare earth export controls as lawful. The escalation comes ahead of a possible Xi-Trump meeting that now appears at risk.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:03China declared Sunday that it is not afraid of a trade war with the United States

00:07after Trump threatened to impose 100% tariffs on Chinese imports.

00:11Beijing's Commerce Ministry accused Washington of a double standard

00:15and defended its new export controls on rare earths as legitimate under international law.

00:21The measures expand to include related technologies and intellectual property,

00:25requiring export licenses for products containing more than 0.1% of Chinese rare earths.

00:31The announcement came weeks before a potential meeting between Trump and Xi Jinping,

00:35which Trump later threatened to cancel.

00:38U.S. stocks plunged Friday, erasing $2 trillion in value after Trump's post about new tariffs.

00:44For all things money, visit Benzinga.com.

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