Overview

• Trump said he no longer sees a reason to meet Xi in Seoul in two weeks, effectively putting the planned summit on hold.
• He accused China of becoming "very hostile" and claimed Beijing is preparing rare-earth export controls that could disrupt global markets.
• Trump said his team is calculating a large increase in tariffs on Chinese imports as a potential financial response.
• The U.S. Commerce Department this week added 15 Chinese organizations to its restricted-entity list over components found in drones used by Iran-aligned groups, including the Houthis and Hamas.
• China condemned the U.S. actions and a day earlier put 14 mostly U.S. defense-linked firms, including Dedrone by Axon, AeroVironment, BAE Systems and TechInsights, on its unreliable entities list with bans on trade and new investments in China.