Trump criticizes Beijing for unsustainable 100% tariffs on China
As a result of China’s steps in tightening control over its rare earth exports, the most recent halt in trade discussions has been linked to China’s actions. This is because China has been taking these actions by itself. The President of the United States, Donald Trump, has admitted that his proposal to impose a tariff of one hundred percent on manufactured goods originating from China would not be feasible in the long run. When asked about the practicality of such a high duty and the potential impact it could have on the economy, Trump reacted by saying, “It’s not sustainable, but that’s what the number is.” This was in response to whether or not such a tariff could be implemented. During an interview he made reference to this particular matter. “They made me be forced to do that,” he stated.
President Trump made the statement that he would be imposing additional tariffs of one hundred percent on China’s exports to the United States a week ago. These tariffs would be applied to all shipments arriving from China. Furthermore, he declared that he will implement new export limits on “any and all critical software” by the first of November, which is nine days before the current tariff respite is scheduled to end. The execution of the new trade measures was a response issued by President Trump in response to China’s significant extension of its controls over the export of rare earth elements.
China, which is in a more advantageous position than other countries, is the dominant player in the market for these components, which are necessary for the manufacturing of technology. Additionally, President Trump expressed his gratitude to Chinese President Xi Jinping and announced that he will meet with him in South Korea in two weeks. The meeting is scheduled to take place.
This meeting was something that Trump had already expressed reservations about throughout the course of the preceding week at some point. “I believe we will manage well with China, but it is essential that we secure a fair agreement.” Trump made the statement, “It’s got to be fair.”
