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Trump questions meeting Xi at APEC over China’s rare earth export rules, threatening new tariffs.
President Donald Trump said there “seems to be no reason” to meet Chinese leader Xi Jinping at the upcoming APEC summit, citing China’s new export restrictions on rare earth elements critical to U.S. technology and defense industries.
Trump, posting on Truth Social, threatened a “massive increase” in tariffs and other countermeasures, calling China’s actions “hostile” and a bid to control global supply chains.
The move, which requires special approval for rare earth exports and limits related technologies, triggered market volatility, with the S&P 500 dropping up to 2%.
While the meeting was not formally canceled, Trump questioned its necessity, citing Beijing’s timing amid global diplomatic efforts.
The U.S. and China remain locked in trade disputes over rare earths, semiconductors, and port fees, despite earlier tariff reductions.
Trump cuestiona la reunión con Xi en la APEC sobre las reglas de exportación de tierras raras de China, amenazando con nuevos aranceles.