Trump announces 130% tariffs on China. The global trade war just came roaring back | CNN Business
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President Donald Trump announced he will impose an additional 100% tariff on goods from China, on top of the 30% tariffs already in effect, starting November 1 or sooner. The threat is a massive escalation after months of a trade truce between the two nations.

Donald Trump announced he will impose an additional 100% tariff on goods from China, on top of the 30% tariffs already in effect, starting November 1 or sooner. The threat is a massive escalation after months of a trade truce between the two nations.

Trump’s announcement is tied to Beijing ramping up export controls on its critical rare earths, which are needed to produce many electronics. As a result, Trump appeared to call off a meeting with Chinese President Xi Jinping that was scheduled for later this month in South Korea.

  • BanMe@lemmy.world
    14·
    2 days ago

    That’s what China is doing on the one hand. On the other, it’s got a gun to our head on rare earth metals. Good job Trumpo. These deals are not likely to come back to us, but we are going to have to capitulate to them because we have no other sources.

      • Lyrl@lemmy.dbzer0.com
        4·
        1 day ago

        Deposits of rare earths aren’t rare, and the US has them, too. It’s the processing of ore into usable metal that China really has a lock on, and the processors have promoted development of the nearby deposits because that makes logistical sense. Sure, other countries could catch up if motivated and organized about it, but building the expertise and infrastructure would take years to decades. If we want to have access to new electronics two years from now, we will capitulate to China.

        • krooklochurm@lemmy.ca
          1·
          1 day ago

          I’m sure the totally competent and not remotely inept Canadian government will get right on this in an efficient and hasty manner.

      • HugeNerd@lemmy.ca
        5·
        1 day ago

        I don’t think I want my country dug up and polluted so the world’s greatest war monger can build better baby-seeking missiles or hospital-buster drones. Fuck em.