Trump: The US may reduce tariffs on China in exchange for China's concessions on rare earths and soybean trade

On October 19 local time, US President Trump revealed on the plane from Florida to Washington that Washington may reduce tariffs on Chinese goods, but at the same time seeks Beijing to change its position on rare earth metals and resume purchasing American soybeans.

"They pay us a huge amount of money in the tariff field. They may want to see these amounts reduced. We will work to achieve this goal. But they must give us something in return."

"I hope China buys soybeans. I hope China bans fentanyl. These are very normal things. I don't want them to play tricks on the rare earth metals issue," Trump explained. "I hope they start buying soybeans again at least as they did before."

On October 09, the Chinese Ministry of Commerce issued two announcements regarding enhanced export controls on rare earth-related items.

On October 10, Trump announced that the US would impose a 100% tariff on products from China and implement export controls on software, which will take effect by November 01 or earlier. He also warned that restrictions might be imposed on other products exported to China, mainly aircraft parts.

The spokesperson of the Chinese Ministry of Commerce responded on October 12, stating that China's release of export control measures on rare earths and related items is a normal act to improve its own export control system. For a long time, the US has generalized national security and abused export controls, adopting discriminatory practices against China, implementing unilateral extraterritorial jurisdiction measures on many products such as semiconductor equipment and chips. It often threatens with high tariffs, which is not the right way to deal with China. If the US persists in its course, China will certainly take corresponding measures to safeguard its legitimate rights and interests.

Original: www.toutiao.com/article/1846470437430282/

Statement: This article represents the personal views of the author.