Overview

• The president said he is weighing a massive increase in tariffs on Chinese imports alongside other financial countermeasures.
• He accused Beijing of sending letters to countries that threaten export controls on items tied to rare earths and other production inputs.
• He announced there is no longer a reason to meet Xi Jinping at the APEC summit in South Korea scheduled in two weeks.
• U.S. stocks fell following the post, with the Dow, S&P 500 and Nasdaq turning lower during Friday trading.
• He said other governments reached out expressing anger over the alleged move by China, and he questioned the timing in light of a Middle East peace development.