US President Donald Trump has warned that he may impose a 200% tariff on China if it refuses to supply rare earth magnets vital for the automotive, electronics, and defense industries.
Trump Threatens 200% Tariffs if China Blocks Rare Earth Magnet Supply
Speaking at the White House, Trump acknowledged China’s dominance in the global magnet market, calling their monopoly “intelligent,” but stressed that withholding supplies would have severe consequences.
He highlighted past tensions, including China’s restriction of rare earth exports earlier this year, and noted America’s leverage in trade, citing how Chinese jets were grounded without US parts. The United States currently applies a 30% duty on Chinese imports, with potential for steeper tariffs.
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