Trump Threatens Higher Tariffs on China Citing Restrictions on Rare-Earth Elements

President Trump threatened to raise tariffs and impose export controls on China and said there was “no reason” to meet with Chinese leader Xi Jinping after Beijing’s new restrictions on rare-earth materials marked an escalation in tensions between the countries.

China this week announced new export restrictions on rare earth minerals, which are critical components of products from semiconductors to electric vehicles and jet fighters. China dominates processing capabilities for rare earth minerals, giving it leverage over the U.S. and other nations.