U.S. President Donald Trump appeared to dismiss the increasing tensions with China over its decision to impose export controls on rare earth minerals, even as he threatens a massive tariff increase over the move.
In a Truth Social post on Sunday, Trump shrugged off Chinese President Xi Jinping’s escalation, which could upend supply chains for American technology companies, as Xi merely having a “bad moment.”
“Don’t worry about China, it will all be fine! Highly respected President Xi just had a bad moment. He doesn’t want Depression for his country, and neither do I. The U.S.A. wants to help China, not hurt it!!!” he posted.
Trump’s comments are a noticeable shift from his earlier messaging when he announced the move from China on Friday, which he had slammed as “very hostile” and accused the country of holding “the World ‘captive’” with its trade policy.
Shortly thereafter, Trump slapped a 100% tariff increase on China over its export controls, and appeared to cancel a highly anticipated meeting with Xi at the APEC summit in South Korea next month as a result.
That new tariff on China is not scheduled to take effect until Nov. 1, but it has not gone unnoticed from China.
CHINA SIGNALS COUNTERMEASURES IF TRUMP STICKS WITH 100% TARIFF INCREASE
Earlier Sunday, China’s Commerce Ministry responded to it by threatening “corresponding measures to safeguard its legitimate rights and interests.”
“Our position on a tariff war remains consistent — we do not want one, but we are not afraid of one,” they said.
