New economic threat from Trump to China
US President Donald Trump stated that economic relations with China are improving, but warned that if an agreement on magnets cannot be reached, they could impose a 200 percent tariff.
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US President Donald Trump made statements regarding economic relations with China during his meeting with South Korean President Lee Jae Myung in the Oval Office.
Trump stated that the US is in a better economic relationship with China compared to previous periods.
Noting that China is acting wisely and has become almost a monopoly in magnet production, Trump emphasized that this situation holds strategic importance for the US.
Trump said, "They have to give us magnets; if they don't, we will have to impose a 200 percent tariff or something similar," expressing that they are gaining economic strength against China and will have a large number of magnets in a short time.