Trump prepares for Xi meeting in South Korea, says 100% tariff unsustainable
The post Trump prepares for Xi meeting in South Korea, says 100% tariff unsustainable appeared on BitcoinEthereumNews.com.
U.S. President Donald Trump admitted on Friday that his 100% tariff on Chinese goods cannot hold forever, but insisted Beijing left him no choice. Speaking on Fox Business Network, Trump said, “It’s not sustainable, but that’s what the number is. They forced me to do that.” The comment came as Washington and Beijing remain stuck in another round of tense trade talks, this time triggered by China’s tightening control over rare earth exports, a move that hit straight at the core of American tech manufacturing. The announcement followed Trump’s rollout of additional 100% levies on China’s U.S.-bound exports a week earlier, coupled with new export controls on critical software set to take effect by November 1, nine days before current tariff relief expires. Trump said the action was necessary to protect American industries from Chinese dominance in rare earth elements. These minerals, mostly processed in China, are key to products like smartphones, chips, and defense systems. Trump prepares for Xi meeting in South Korea Trump also confirmed he will meet Chinese President Xi Jinping in South Korea in two weeks, a meeting he previously doubted would happen. “I think we’re going to be fine with China,” Trump said. “But we have to have a fair deal. It’s got to be fair.” The remark was seen as an attempt to strike a diplomatic balance before the summit. Meanwhile, Treasury Secretary Scott Bessent is set to speak by phone with Chinese Vice Premier He Lifeng to keep trade discussions alive. A senior White House official reportedly told CNBC that the conversation would focus on “ongoing negotiations” between the two nations, though the timing and next steps were not immediately revealed. Officials described the call as part of a continued effort to stabilize relations before Trump’s face-to-face meeting with Xi. The White House’s…
