US President Donald Trump issued a series of escalating statements on Monday as trade tensions between the United States and China deepened. Trump announced plans to impose a 155% tariff on Chinese goods beginning 1 November, warning Beijing against retaliating against foreign companies supporting American industry.
The US president accused China of punishing US farmers by halting soybean purchases, asserting that his administration “will not allow China to punish our farmers.”
Trump suggested that Beijing could respond by restricting rare earth exports, a critical component of global manufacturing, but insisted that his administration would meet such measures with higher tariffs. He also hinted at the possibility of aircraft export controls as part of a broader strategy to pressure Chin