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4h ago

U.S. Signals Trump–Xi APEC Meeting as Rare‑Earth Dispute Triggers 100% Tariff Threat

Treasury reports renewed contact with Beijing alongside a push to coordinate with allies.

FILE - President Donald Trump, left, shakes hands with China's President Xi Jinping during a meeting on the sidelines of the G-20 summit in Osaka, Japan, June 29, 2019. (AP Photo/Susan Walsh, File)
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A crane loads a shipping container into a truck at an automated container port in Tianjin, China, Aug. 29, 2025 (AP photo by Mahesh Kumar A.)

Overview

  • U.S. Treasury Secretary Scott Bessent says President Trump plans to meet President Xi in South Korea during APEC on Oct. 31–Nov. 1, following a weekend reopening of communications.
  • Beijing’s new licensing rules extend to products with more than 0.1% China‑sourced rare earths or made with Chinese processing technologies and bar exports for foreign military end users, with fuller enforcement referenced for Dec. 1.
  • Trump has threatened a 100% tariff on Chinese imports effective Nov. 1 and flagged possible software export controls, while U.S. Trade Representative Jamieson Greer suggested the tariff timeline could move faster depending on Beijing’s actions.
  • South Korea’s Trade Ministry is assessing the impact as chipmakers like Samsung Electronics and SK hynix face potential delays and higher costs due to rare‑earth curbs affecting advanced semiconductor equipment.
  • The White House is courting support from Europe, India and Asian democracies, and Trump separately threatened to halt cooking oil trade with China over reduced U.S. soybean purchases.