""But the U.S. has Monopoly positions also, much stronger and more far reaching than China's," he warned in a Truth Social post before his tariff move. "I have just not chosen to use them, there was never a reason for me to do so - UNTIL NOW!""
"" forbid any country on Earth from participating in the modern economy,""
""Whatever the motivation, China's recent actions were a bit of a gamble and there is a risk that they could backfire," they wrote."
China imposed rare-earth export restrictions, reigniting trade friction as rare earths are critical to many technologies and China controls more than 90% of processed rare earths and magnets. The United States responded with plans for an additional 100% tariff and software restrictions while also signaling broader leverage it has not previously used. President Trump later softened rhetoric and acknowledged planned tariffs are unsustainable. A meeting between Trump and Xi Jinping remains scheduled at month’s end in South Korea. China appears to be boosting its negotiating position, a move that could narrow scope but also risks backfiring.
Read at Fortune
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