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Trump threatens 200% tariff hike for China over rare-earth magnets

Africanews · Just In
Africanews
Africanews
Just In

The U.S. president threatened Beijing with a steep tariff increase if the country did not supply rare-earth magnets, which are crucial for a range of products, such as smartphones and electric vehicles, to Washington.

Breakdown
  • President Trump threatens a 200% tariff on Chinese rare-earth magnets. 3s
  • The threat is linked to China's supply of rare-earth magnets to the US. 9s
  • China is the world's main supplier of rare-earth magnets, crucial for electric vehicles. 13s
  • China has tightened export controls on several rare metals amid the ongoing trade war. 23s
  • The tariff threat comes despite a recent 90-day pause on tariff hikes agreed by both countries. 32s
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Donald Trump has signed an order to impose tariffs imports into the U.S. from countries including China, Mexico and Canada.