- U.S. to resolve disagreements through talks
- The tariff threat following China’s new restrictions on exporting rare earths
- The dispute threatens to derail their trade truce
China signaled Sunday it will not back down from President Donald Trump’s threat to impose a 100% tariff on imports.
Eko Hot Blog gathered that the Commerce Ministry stated, “We do not want a tariff war but we are not afraid of one,” urging the U.S. to resolve disagreements through talks.
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Trump made the tariff threat following China’s new restrictions on exporting rare earths, materials essential for military and consumer goods.
Hours later, Trump adopted a less aggressive approach on Truth Social, telling Chinese leader Xi Jinping not to worry, and stating the U.S. wants to help China, not hurt it.
His shift followed a 2.7% plunge in the S&P 500 index on Friday, signaling market anxiety over the tariff threat.
Vice President JD Vance justified Trump’s tough tariffs, calling China’s control over critical supplies a “national emergency.” He warned Beijing that if they respond aggressively, Trump possesses “far more cards” than China.
The Commerce Ministry, however, maintained that repeatedly threatening high tariffs is not the right way to interact and warned it would take “corresponding measures” if the U.S. insists on its practice.
The dispute threatens to derail their trade truce.
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