"US doesn't want to hurt China," Trump says

Trump said in a post on Truth Social that the US wants to help China.

"Don't worry about China, it will all be fine! Highly respected President Xi just had a bad moment. He doesn't want Depression for his country, and neither do I. The U.S.A. wants to help China, not hurt it!!! President DJT."

The White House said in a post on X, "It is impossible to believe that China would have taken such an action, but they have, and the rest is History. Thank you for your attention to this matter!"

https://x.com/WhiteHouse/status/1976752806389596388

Earlier on Saturday, China vowed countermeasures against Washington if US President Donald Trump makes good on his threat to impose new 100% tariffs on Chinese imports, CNN reported.

Trump's latest threat came after China unleashed a raft of export restrictions on rare earth minerals last week. The escalating tensions threaten to derail months of progress in trade talks.

"Resorting to threats of high tariffs is not the right way to engage with China," a Ministry of Commerce spokesperson said Sunday, in Beijing's first comments on the threat.

"If the US persists in acting unilaterally, China will resolutely take corresponding measures to safeguard its legitimate rights and interests," the spokesperson added. "Our position on a tariff war remains consistent - we do not want one, but we are not afraid of one," as per CNN.

The rapid escalation of trade tensions between the world's two largest economies has sunk stocks, rattling investors and industries by igniting fears of a repeat of the tit-for-tat tariff battle in spring, when levies on Chinese and American imports soared to around 145% and 120% respectively.

It also adds fresh uncertainty into the ongoing trade talks between the two nations. Trump and Chinese leader Xi Jinping were expected to hold a highly anticipated meeting in South Korea in two weeks' time but Trump, citing the rare earths issue, has cast doubt on that meeting happening, CNN reported. (ANI)