President Donald Trump moved to calm fears of an escalating trade war with Beijing on Sunday after he threatened to impose 100% tariffs on China’s imports in response to the nation’s export curbs on rare earth minerals.

Trump’s new tariffs on China would amount to a big increase over the current average 55% levy.

In a post on Truth Social, Trump said that China’s economic troubles would “all be fine” and insisted that the US “wants to help China, not hurt it.”

“Don’t worry about China, it will all be fine!” Trump wrote. “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!!!”

The post came hours after China issued an official response to Trump’s threat to impose a 100

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