"In an interview with Fox News' Sunday Morning Futures, he also mixed in some flattery for Chinese President Xi Jinping while still airing some grievances. "I'm not looking to destroy China," Trump said. Earlier this month, he announced an additional 100% tariff and software restrictions on China, which has a stranglehold on the world's supply of rare earths and imposed tighter export controls that threaten a wide range of industries."
"His tone contrasts with more ominous rhetoric in August, when he said the U.S. holds the upper hand versus China. "They have some cards. We have incredible cards. But I don't want to play those cards. If I did, that would destroy China," Trump told reporters, adding "I'm not going to play those cards." In fact, analysts have noted other ways that the U.S. could target China's economy beyond tariffs."
"Markets have been whipsawed by the latest round of escalation and de-escalation in the U.S.-China trade war. After stocks tumbled when Trump announced the new 100% tariff, they rebounded sharply after he said "Don't worry about China" and vowed that everything will be fine. Treasury Secretary Scott Bessent is due to meet Chinese Vice Premier He Lifeng this week to continue talks."
President Donald Trump sought to lower tensions in the U.S.-China trade war while keeping pressure through new tariffs and software export restrictions. He said he is not looking to destroy China and praised Xi Jinping in a Fox News interview, while airing grievances and accusing China of ripping off the U.S. Earlier this month he announced an additional 100% tariff and software restrictions, citing China's control over rare earth supplies and tightened export controls. Analysts highlighted other U.S. leverage points such as aviation supply chains, software exports, and financial infrastructure. Markets reacted sharply to the escalation and calming statements, and officials plan further talks ahead of a Trump-Xi meeting.
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