Summary
President Donald Trump suggested canceling a planned meeting with China's President Xi Jinping due to tensions over technology and trade. This comes after China introduced new export controls on rare earth metals, which are crucial for technology. Trump criticized these controls and threatened tariffs in response.
Key Facts
- President Trump mentioned possibly canceling a meeting with President Xi Jinping at the APEC summit.
- The meeting was intended to reduce economic tensions between the U.S. and China.
- China announced new export controls on rare earth metals, crucial for tech industries.
- Rare earth metals are necessary for devices such as smartphones and military equipment.
- China now requires export licenses for 12 of the 17 rare earth elements.
- Trump criticized China's export controls and threatened new tariffs against China.
- U.S. and China had previously agreed on a 90-day trade pause, which ends around November 9.
- Trump stated that the U.S. has monopoly positions equal to or stronger than China’s.
