Beijing is limiting exports of rare earths needed by American industry, infuriating Donald Trump, who cancels a meeting scheduled for two weeks with Xi Jinping during the US president's trip to South Korea.

“China is becoming very hostile and there no longer seems to be any reason to meet with Xi Jinping,” Trump wrote on Social Truth.

Furthermore, in response to the Chinese leader's moves, the tycoon said he was considering a "massive increase" in tariffs on imports of Chinese products.

"One of the policies we are considering right now is a massive increase in tariffs on Chinese products coming into the United States of America," Trump wrote on his Truth Social platform. "There are many other countermeasures that are also being seriously considered." Trump claimed that China is "becoming very hostile" over rare earths and is holding the world "prisoner," limiting access to the metals and magnets used in electronics, computer chips, lasers, and other technologies.

(Unioneonline)

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