President Trump on Friday threatened an increase in tariffs on China and other potential countermeasures after Beijing tightened control over rare earth elements and critical mineral exports.

Trump wrote in a lengthy post on Truth Social that he did not see a reason to meet with Chinese President Xi Jinping during a summit in South Korea later this month as previously planned in light of Beijing's moves, which Trump called "surprising."

"Dependent on what China says about the hostile 'order' that they have just put out, I will be forced, as President of the United States of America, to financially counter their move," Trump posted. "For every Element that they have been able to monopolize, we have two. I never thought it would come to this but perhaps, as with all things, the time has co

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