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US President Donald Trump has made a big statement about China. He said that the relations between America and China can improve, but if the situation worsens, then America has such options with which it can completely destroy China. However, Trump also made it clear that he does not intend to do anything like this. He wants the situation to remain peaceful and there should be a balance in trade between the two countries. Trump made this statement before meeting South Korean President Lee Jae Myong in the Oval Office in Washington. He said that America is in a much stronger position than China in this trade dispute.
Warning given on rare earth magnets
According to a report by Money Control, Trump also gave a strong reaction to China’s “rare earth” policy. He said that if China stops the supply of necessary magnets to America, then America may be forced to impose tariff (import duty) up to 200% on them. It is worth noting that these magnets are used in high-tech industry, defense equipment and electronic goods. America is largely dependent on China for this supply. In such a situation, increasing tariffs is not just an attempt to put trade pressure on China, but it is also being considered a strategic move.
Trump may visit China
Donald Trump said that he has recently talked to Chinese President Xi Jinping and dialogue is going on between the two countries. He also said that it is possible that he may visit China soon. Trump said, “We will build a great relationship with China. They have some options, we have great options. But I do not want to use them. If used, it will completely destroy China.” However, Trump did not clarify whether these options are economic, political or some other strategy.
America wants China to reduce exports
At the same time, US Treasury Secretary Scott Besant has said that China’s oil trade with countries on which sanctions are imposed, especially Iran and Russia, is a matter of concern for America. During an international meeting in Sweden, he said that the US wants China not to dominate its manufacturing so much and play a more responsible role as a global importer. Besant believes that if China maintains balance in its role, the global trade environment can be more stable.
Signs of softening in trade conflict
During Trump’s second term, the US had increased the tariff on Chinese goods by 145% in April. But later there was some softening in it and the tariff on most things was reduced to 30%. In response, China continued the 10% tariff on American goods and imposed strict restrictions on the export of rare earth in April. After this, the US administration’s stance also softened a bit. In August, both countries decided to reduce mutual trade tensions for 90 days so that a solution could be tried through talks.
