On Friday, President Trump announced plans to impose a 100% tariff on all Chinese imports, dramatically escalating trade tensions and throwing a planned meeting with Chinese President Xi Jinping into question. The move, unveiled Friday, comes after Beijing restricted exports of rare earth minerals critical to U.S. technology and defense industries.

Trump framed the new tariffs as retaliation for what he called China’s “economic aggression,” warning that “America will no longer be dependent on hostile powers for vital resources.” The White House said the administration is also reconsidering U.S. participation in the upcoming APEC summit, where Trump and Xi were expected to hold bilateral talks.

Economists and trade experts immediately warned that such tariffs could spark a new trade war,

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