Donald Trump threatens to meet President XI Jinping. “There are very strange things in China!”

US President Donald Trump has threatened to meet Chinese leader Xi Jinping, accusing Beijing of “economic hostility” after China has announced new restrictions on rare metal exports, essential to the global technology industry.

Donald Trump doesn't want to meet Xi Junping. Photo: Archive

The diplomatic crisis between Washington and Beijing seems to be deepening, after US President Donald Trump said on Friday, October 10, that he was considering canceling the meeting with President XI Jinping, after the Chinese authorities have imposed new rules on rare metals, essential raw materials for the production of chips, batteries and technologies.

In a wide post on social networks, the White House leader accused China of trying to “control the world” through the monopoly over these critical resources.

“There are very strange things in China! They become very hostile and send letters to countries around the world (…). Donald Trump wrote on Social Truth.

He also claimed that this decision of Beijing “He took all the states of the free world by surprise” and that the United States is ready to respond economically.

“One of the policies we consider at this time is a massive increase in customs tariffs for Chinese products entering the United States. There are many other countermeasures in question”, threatened the leader at the White House.

Markets react to president's statements

Following the messages published by Trump, the S&P 500 index decreased by 1.4%, and the Asian scholarships registered significant losses, investors fearing the resumption of the commercial war between the two powers.

China, on the other hand, also announced an antimonopol investigation against American Qualcomm, which could affect its purchase by another chip manufacturer. At the same time, Beijing intends to introduce new port taxes for ships with US, including those operated by American companies.

“It becomes very clear that Beijing plays hard. But Trump's reaction could be much tougher than China is expected,” commented on an American official.

“I have no reason to meet XI”

Donald Trump stressed that the relationship with China has been a “very good” one in recent months, but that this new “commercial hostility” completely changes the context.

“I was going to meet President XI over two weeks, in Apec, in South Korea, but now it seems that there is no reason to do it.” said the American leader.

“I did not talk to President XI, because I had no reason to do it. It was a real surprise, not only for me, but for all the leaders of the free world.” Trump added.

He suggested that this movement of China is not a coincidence, mentioning the moment when the US had announced a historical peace agreement in the Middle East.

“The Chinese letters were particularly inappropriate, given that this was the day when, after three thousand years of chaos, there is peace in the Middle East. I wonder if the moment chosen was a coincidence,” Donald Trump wrote on Truth.

“Our relationship with China in the last six months has been a very good one, which makes this commercial movement even more surprising. I have always felt that I was staying and now, as usual, I was right! Monopoly, a fairly sinister and hostile movement, to say a little ”, he manifested Donald Trump dissatisfaction.

“Beijing tests the limits of Washington”

Political analysts believe that Beijing uses economic pressure tactics before future commercial discussions. Jonathan Czin, an expert in China and a member of Brookings Institution, believes that President XI “tries to take over the initiative”.

“XI's recent actions are a clear attempt to influence negotiations with the US. The Trump administration has to react to these challenges as they appear,” explained Jonathan Czin.

He added that Beijing is not afraid of American reprisals: “China has learned from the previous rounds of rates that it has a higher ability to resist economically. From their perspective, the Trump administration blinked the first.”

A new wave of global economic tensions

The conflict between the US and China on commerce and strategic resources has reassembled after a period of relative detention. In recent months, the two states had agreed to reduce mutual tariffs and resume discussions about Tiktok, agricultural acquisitions and trade in advanced technology.

But the new restrictions imposed by China on rare, vital metals for industries such as cars, defense and green energy could reconfigure world markets again.

“Although it can be painful, in the end it will be a very good thing for the USA”, Donald Trump wrote. “We will counteract every movement of China with a double one. The moment has arrived,” he pointed out.