US President Donald Trump has said he had to impose steep tariffs on China after Beijing tightened export controls on rare earth minerals, a move that he described "he was forced to do." He acknowledged the decision was difficult but insisted it was necessary given the ongoing trade pressures from China.
In an interview with Fox Business, Trump explained the actions that prompted the tariffs. "He (Chinese President Xi Jinping) squeezed the US by tightening the export controls on rare earth minerals. I raised our tariffs to 100% on top of what they're already paying, which is far worse. Far worse. It's not sustainable, but that's what the number is. It's probably not. But they forced me to do that."
He added, "We'll see what happens with China. I've always had a great relationship with them, but they're always looking for an edge. You know, they ripped off our country for years."
Trump, in the interview, also confirmed plans to meet Chinese President Xi Jinping in South Korea to discuss the situation. "We're going to meet in South Korea with President Xi and other people, too. We have a separate meeting set up," he said.
Despite the tensions, Trump expressed confidence in handling the trade relations with China and said "I think we're going to be fine with China. I get along great with him. He's a very strong leader, a very amazing man. You look at what he's done and what he's, you know, where he's his life is an amazing story. It's a story for a great movie. I think we're going to be fine with China, but we have to have a fair deal. It's got to be fair. And you cover it as well as anybody that's ever covered this subject. You know, it's a very complex subject. But China has ripped us off from day one."
The latest remarks by Trump comes after he announced last week that the United States would impose an additional 100% tariff on Chinese goods starting November 1, in response to Beijing's new export controls on rare earth minerals, a sector currently dominated by China.
Earlier on Sunday, Trump had said that the United States wants to help China, not hurt it, striking a conciliatory tone after threatening an additional 100 per cent tariff on the world's second-largest economy.
"The USA wants to help China, not hurt it!!!" Trump said in Sunday's post on Truth Social, adding that "respected President Xi (Jinping)... doesn't want Depression for his country."
