Trump Accuses China of ‘Inappropriate’ Rare Earths Move as Middle East Peace Takes Hold
China Tightens Rare Earth Export Curbs Ahead of Possible Xi–Trump Meeting
Donald Trump has accused China of deliberately timing its announcement of new restrictions on rare earth mineral exports to coincide with the declaration of peace between Gaza and Israel.
Posting on Truth Social, the former US president wrote:
Trump went on to accuse Beijing of seeking to “hold the world captive” by amassing control over key materials used in magnet and technology production, calling it a “sinister and hostile move.”
He added that while the US holds “much stronger and more far-reaching monopoly positions”, he had “not chosen to use them — until now.”
The president concluded by saying Washington is “calculating a massive increase of tariffs on Chinese products coming into the United States of America.”
Wall Street Falls After Trump Signals ‘Massive’ Tariff Hike on Chinese Goods
US stocks reversed earlier gains on Friday after Donald Trump said he was considering a “massive increase” in tariffs on imports from China.
The S&P 500 fell 1%, the Nasdaq Composite plunged 1.6%, and the Dow Jones Industrial Average dropped 0.6% as investors reacted to the renewed threat of a US-China trade escalation.
