The True Post (Web News) US President Donald Trump has threatened to impose a 200% tariff on China if it does not provide magnets.
Speaking to reporters, President Trump said that if China does not supply magnets to the United States, we will have to impose a 200 percent tariff on them. He said that we have the power of tariffs and if we impose a 100 or 200 percent tariff, there will be no business with China. If we have to do that, we will have no problem. Trump acknowledged that such heavy tariffs could increase concerns about the end of trade relations between the two countries. Trump said that like China, the United States has power over magnets, but the United States has powers that, if used, would destroy China. Trump’s statement came at a time when trade tensions between the two countries are escalating. It should be noted that China has a 90 percent share of the world’s magnet market, which plays a key role in advanced technology, including semiconductor chips and products such as smartphones. In April, China retaliated by adding several rare earth minerals and magnets to its list of export restrictio
