Donald Trump announced the introduction of an additional 100% work on Chinese goods and export control of critical software.
Trump's decision is simply a consequence to China's export restrictions on uncommon earth metals and another key natural materials.
The US president stressed that China is utilizing its monopolistic position, but the US has an even stronger position on the market.
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President of the United States Donald Trump announced that United States date 1 November on Chinaan additional work of 100 %. He besides announced the introduction of export controls on all critical software.
Trump noted in his entry on the fact Social platform that duties could be introduced earlier – depending on Beijing's actions. He stressed that the rate of 100% would apply in addition to the duties already imposed on imports.
‘This concerns all countries, without exception, and of course it was a plan developed by them years ago. This is completely different in global trade and is simply a moral disgrace in relations with another countries," the president of the United States added.
Donald Trump reacts to Beijing's actions
Previously Donald Trump said He sees no reason to meet China's leader Xi Jinping against China's export restrictions on uncommon earth metals.
‘W There are very unusual things going on in China! They become very hostile and send letters to countries around the planet that they want to introduce export control on all component of production associated with uncommon earth metals and virtually anything else that will come to their mind, even if it is not produced in China," Trump wrote on the community portal fact Social.
In his opinion, Beijing's action "will shut down markets and make life hard for virtually all country in the world". He besides stated that another countries besides expressed utmost anger over China's decision. The president added that he had long suspected that China was going to usage its monopolistic position in the area of mining and processing key to the modern mineral economy.
"There is no way that China is allowed to hold the planet as a ' hostage', but this seems to have been their plan for a long time, beginning with 'magnets' and another elements which they quietly gathered as part of a kind of monopolistic position, which is, to put it mildly, rather a sinister and hostile move. But The United States is besides monopolistic, much stronger and wider than China," Trump said.
"Depending on what China will say about the hostile 'regulation' that they have just issued, I will be forced, as president of the United States, to financially counter their actions. For all component they've managed to monopolize, we have two. I never thought it would come to this, but perhaps, as with everything, the time has come for it," he wrote.
He announced that this decision could be possibly painful, but yet beneficial to the US. He added that in the face of Chinese actions he sees no reason why during the upcoming APEC summit in South Korea Meet Chinese leader Xi Jinping.
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