Washington, Aug 26: US President Donald Trump on Monday said China must provide magnets to the United States without restrictions, warning that failure to do so would trigger a 200 percent import tax or other punitive measures.
The statement comes as trade tensions between the two countries deepen. According to reports, China has grown increasingly sensitive about rare magnets and their supply. In April, as a response to US tariff hikes, China added several rare minerals and magnets to its export restriction list.
During a meeting with his South Korean counterpart Lee Jae-myung at the White House, Trump stressed that Washington still seeks to maintain ties with Beijing. “We will have an excellent relationship with China. They have some cards and we have incredible cards too,” Trump said. “But I don’t want to play those cards. If I did, China would be destroyed. I’m not going to play them.”
Trump also commented on North Korea, saying he wants to meet leader Kim Jong Un this year. Speaking ahead of his talks with Lee, Trump said, “I have a very good relationship with Kim. I understand him, I’ve spent a lot of time with him. We’ve talked about things we probably shouldn’t have. I like him very much. I think his country has tremendous potential.”
When asked if the meeting could take place this year or next, Trump replied, “I want to meet him this year.”
People’s News Monitoring Service
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