Trump brushes off trade tensions with China: ‘It will all be fine!’
U.S. President Donald Trump downplayed escalating trade tensions with China following its decision to impose export controls on rare earth minerals. Despite threatening a 100% tariff increase on Chinese goods and appearing to cancel a planned meeting with Chinese president Xi Jinping at the upcoming APEC summit, Trump reassured in a Truth Social post that “it will all be fine” and described XiS actions as a “bad moment.” He emphasized that neither country wants economic depression and expressed a desire to help rather than harm China. In response to the tariff threat, China’s commerce Ministry warned of possible countermeasures but stated that while it does not want a trade war, it is indeed prepared for one if necessary.
Trump brushes off trade tensions with China: ‘It will all be fine!’
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.
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