Trump threatens China with 'massive tariff increase'
The US president also stated that he sees no reason to meet with Xi Jinping.
Reuters US President Donald Trump said on Friday that there is no reason to meet with Chinese President Xi Jinping in two weeks in South Korea as planned, adding that the US is calculating a sharp increase in tariffs on Chinese imports.
Trump said, in a post on the Truth Social platform, that China has been sending letters to countries around the world saying it plans to impose export controls on all rare earth elements of production.
"No one has ever seen anything like this, but essentially, it would 'clog' the markets and make life difficult for virtually every country in the world, especially China," he said in the publication.
Trump added that he did not speak with Xi because there was no reason to.
