China Responds to Trump Tariff Threat

The Commerce Ministry released a statement saying, ‘China’s stance is consistent; China does not want a tariff war, but it is not afraid of one.’ This back-and-forth began when China added new restrictions on rare earth minerals, which are necessary for technology products like smartphones. After markets took a dump on Friday, Trump returned to Truth Social and downplayed the conflict with Chinese President Xi. The post said ‘the USA wants to help China, not hurt it.’ The additional 100 percent tariffs are scheduled to take effect on November 1.