Key points

US president vents about Chinese export controls

Trump: ‘No reason’ to meet Xi in three weeks

Rift between two largest economies leaves markets reeling

Washington: US President Donald Trump threatened to hike tariffs against China and cancel a planned meeting with President Xi Jinping, in a broadside against Beijing that sent markets and relations between the world’s largest economies into a spiral.

Trump, due to meet Xi in about three weeks in South Korea, complained on social media about what he called China’s plans to hold the global economy hostage after China dramatically expanded its rare earths export controls on Thursday.

US President Donald Trump’s latest move could revive a destabilising tit-for-tat trade war that Washington and Beijing paused amid painstaking d

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