Donald Trump has threatened to impose additional US tariffs of 100% on China from next month, accusing Beijing of “very hostile” moves to restrict exports of rare earths needed for American industry.
Over the summer, relations had improved between Washington and Beijing, and Trump agreed to drastically reduce steep tariffs he imposed on China earlier this year, following negotiations between the two countries.
Late on Friday, however, the president threatened to ratchet them back up by imposing a 100% tariff on goods from China “over and above” any existing tariffs.
Trump repeatedly hiked US tariffs on Chinese goods in the spring, amid spiraling tensions between the two countries, to a peak of 145%.
Beijing hit back, raising its own tariffs on US exports to 125%.
US tariffs on Chinese products fell to 30%, while Chinese tariffs on US goods dropped to 10%.
Earlier this week, Beijing significantly expanded its export controls over rare earths, adding five new materials to its control list. »