U.S. President Donald Trump on Monday renewed aggressive tariff threats, warning China it could face 200% duties if it restricts exports of rare-earth magnets and telling countries that levy digital services taxes (DSTs) on U.S. tech firms they will face “substantial” new tariffs and possible U.S. chip export limits. Trump made the comments after a White House meeting with South Korean President Lee Jae Myung and posted on Truth Social: "I, as president of the United States, will impose substantial additional tariffs..." and "Show respect to America and our amazing technology companies, or consider the consequences!"

Trump also said, referring to magnets: "They must give us magnets. If they don't, we must charge 200% tariffs or something like that," and claimed U.S. withholding of Boeing parts had grounded Chinese aircraft. Boeing is reportedly negotiating sales of up to 500 planes with China. Chinese exports of rare-earth magnets rebounded after April export curbs, with shipments to the U.S. up 660% in June versus May; China controls roughly 90% of global supply and much of refining capacity. Henry Wang of the Center for China and Globalization said: "He's bluffing... we should not be carried away by the rhetoric."

The move escalates trade tensions as a temporary U.S.-China truce is set to expire in mid-November. Trump has targeted DSTs aimed at large tech firms such as Meta, Alphabet and Amazon, arguing they discriminate against U.S. companies; governments imposing DSTs counter that big tech earns large local revenues while paying little local tax. #China #trade #digitaltax #Boeing #US #FiatNews