On Friday,US President Donald Trump accused China of “weaponizing” rare earth exports,vowing to retaliate with new tariffs.
He said themove came “out of nowhere” despite recent progress in US–China relations, andannounced the cancellation of his planned meeting with Chinese President XiJinping at the Asia-Pacific Economic Cooperation (APEC) summit in South Korea.“We have stronger monopoly positions than China, I just never chose to usethem. Until now."
Gold jumpedagain while global stocks and oil prices fell amid fears that Trump’s commentscould reignite a full-scale trade war.
Read more: China to impose fees on US ships in retaliation for American charges
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