China Vows To Take Corresponding Measures As Trump Threatens 100% Tariff

Beijing: The ongoing trade tensions between the United States and China have escalated in recent days, with President Donald Trump threatening to impose a 100% tariff on all Chinese imports. Trump's move is said to be in response to China's recent restrictions on the export of rare earth minerals, a crucial component in the production of various high-tech products.

In a statement released on Sunday, China's Commerce Ministry expressed its firm stance on the issue, saying, "We do not want a tariff war, but we are not afraid of one." The ministry emphasized the need for dialogue and negotiation to resolve trade differences, rather than resorting to threats and tariffs. "Frequently resorting to the threat of high tariffs is not the correct way to get along with China," the ministry said.

China's Rare Earth Minerals

Notably, rare earth minerals are a vital component in the production of various high-tech products, including electric vehicles, wind turbines, and consumer electronics. China dominates the global supply chain, accounting for nearly 70% of the world's rare earth mining and roughly 90% of its global processing. The US has expressed concerns about its reliance on China for these critical minerals and has been seeking to reduce its dependence.

US Vice President JD Vance defended Trump's position, saying that the president is committed to protecting America's economic livelihoods and making the United States more self-sufficient. "The fact that China has so much control over critical supply in the United States of America is the definition of a national emergency," Vance said. He added that the US has more cards to play than China and that the situation will depend on how China responds.

The escalating trade tensions between the US and China have raised concerns about the impact on global trade. The imposition of tariffs could lead to higher prices for consumers and businesses, slowing down economic growth.