dickie davies
Well-Known Member
he's got the hump, so he's trying to punish everyone by crashing the stock markets again
In a lengthy post on Truth Social, Trump claimed that Beijing has begun sending formal letters to governments around the world outlining plans to impose restrictions on the export of rare earths and "virtually anything else they can think of, even if it's not manufactured in China." He described the move as "sinister and hostile," warning that it could "clog the markets" and disrupt industries globally.
"Nobody has ever seen anything like this," Trump wrote. "There is no way that China should be allowed to hold the world ‘captive,' but that seems to have been their plan for quite some time, starting with the ‘magnets' and other elements that they have quietly amassed into somewhat of a monopoly position."
Rare earth elements are essential inputs for industries ranging from defense to renewable energy and consumer electronics. China dominates the sector, accounting for more than 80% of global production and refining. Any restrictions would ripple through global supply chains, particularly in sectors dependent on high-performance magnets, batteries, and advanced electronics.
"I have always felt that they've been lying in wait, and now, as usual, I have been proven right," Trump wrote. "One of the policies we are calculating at this moment is a massive increase of tariffs on Chinese products coming into the United States. There are many other countermeasures under serious consideration."
Beijing has not yet issued an official statement on the matter, and details of the letters cited by Trump have not been made public. Investors are now bracing for potential retaliatory measures from Washington, including higher tariffs and targeted financial sanctions.
Trump's Rant Against China Sends Global Markets Reeling
Global stock markets plunged on Friday after Donald Trump accused China of launching an unprecedented wave of export controls on rare earth elements and other key materials, escalating tensions between the world's two largest economies and sparking fears of a global supply chain shockIn a lengthy post on Truth Social, Trump claimed that Beijing has begun sending formal letters to governments around the world outlining plans to impose restrictions on the export of rare earths and "virtually anything else they can think of, even if it's not manufactured in China." He described the move as "sinister and hostile," warning that it could "clog the markets" and disrupt industries globally.
"Nobody has ever seen anything like this," Trump wrote. "There is no way that China should be allowed to hold the world ‘captive,' but that seems to have been their plan for quite some time, starting with the ‘magnets' and other elements that they have quietly amassed into somewhat of a monopoly position."
Markets react swiftly
Trump's comments sent shockwaves through financial markets. Global indices dropped. Commodity markets moved violently as well.Rare earth elements are essential inputs for industries ranging from defense to renewable energy and consumer electronics. China dominates the sector, accounting for more than 80% of global production and refining. Any restrictions would ripple through global supply chains, particularly in sectors dependent on high-performance magnets, batteries, and advanced electronics.
A sudden escalation
Trump emphasized that the move came as a surprise, noting that U.S.–China relations had been "very good" over the past six months. He said he had not spoken to Chinese President Xi Jinping and suggested that their planned meeting at the APEC summit in South Korea in two weeks may now be canceled."I have always felt that they've been lying in wait, and now, as usual, I have been proven right," Trump wrote. "One of the policies we are calculating at this moment is a massive increase of tariffs on Chinese products coming into the United States. There are many other countermeasures under serious consideration."
Beijing has not yet issued an official statement on the matter, and details of the letters cited by Trump have not been made public. Investors are now bracing for potential retaliatory measures from Washington, including higher tariffs and targeted financial sanctions.
