US President Donald Trump has claimed that China plans to limit exports of uncommon earth components and different manufacturing inputs, and introduced that he’s contemplating elevating tariffs on Chinese language items in response to this improvement.
In a submit on Reality Social, President Trump mentioned: “One thing very unusual is occurring in China! China has taken a really aggressive stance and is sending letters to nations all over the world saying they need to impose export restrictions on all components of uncommon earth manufacturing. This can clog markets and make life tough for nations all over the world.”
President Trump mentioned relations with China have been going “very effectively” over the previous six months, however the sudden commerce coverage got here as an enormous shock to each him and “the leaders of the free world.” He additionally mentioned that China has lengthy “established a monopoly place in magnetics and different elements,” which he described as a “deliberate and hostile technique.”
“America additionally has a a lot stronger monopoly place than China, however till now I’ve had no cause to make the most of it!” Trump added that the letter despatched by China was “many pages lengthy” and detailed the weather it wished to cease offering to different nations.
Trump additionally questioned whether or not it was a “coincidence” that the event coincided with “the primary peace achieved in 3,000 years” within the Center East.
“For each factor that China has a monopoly on, we’ve got two. We by no means thought we might get thus far, however maybe the time has come. One of many insurance policies we’re presently contemplating is a big improve in tariffs on Chinese language merchandise imported into the US,” the US president mentioned, indicating his intention to take financial measures in response to China’s stance.
*This isn’t funding recommendation.
