US-China trade war: Trump and Xi to meet amid renewed tariff threat

President Donald Trump and President Xi Jinping are slated to hold a meeting later in October amidst a sharp escalation in trade friction, following the United States’ threat to impose a massive additional 100 per cent tariff on China.

The American President justified the proposed new import tax, which is set to become effective early next month, as a necessary retaliation against the Chinese government’s recently announced major expansion of export controls on rare earth minerals. This move injects fresh volatility into the relationship between the world’s two largest economies.

Dependable NG reports that U.S. Treasury Secretary Scott Bessent attempted to soothe the tensions, stating in an interview on Fox Business Network on Monday that communications held over the weekend had resulted in a “substantially de-escalated” situation. Bessent was quick to assure that the 100 per cent tariff “does not have to happen,” maintaining that the United States-China relationship “is good” despite the preceding week’s alarming announcement from the President.

Further high-level engagement is planned this week as senior officials from both nations are scheduled to meet in Washington D.C., on the sidelines of the annual gatherings of the World Bank and the International Monetary Fund. Secretary Bessent confirmed that the tariffs are not set to take effect until November 1, adding, “He will be meeting with Party Chair Xi in Korea. I believe that meeting will still be on.”

The two leaders are expected to convene for a private session during the upcoming Asia-Pacific Economic Cooperation (APEC) summit. In response to the U.S. threats, China’s Foreign Ministry spokesperson, Lin Jian, commented on Monday, “Threatening high tariffs is not the right way,” and affirmed that all concerns should be addressed through dialogue and on the basis of mutual benefit, vowing that the nation would safeguard its legitimate rights.

Adding another layer of geopolitical strain, the U.S. officially condemned China’s recent aggression in the South China Sea, which involved ramming and water-cannoning a Philippine Bureau of Fisheries and Aquatic Resources vessel near Thitu Island. State Department deputy spokesperson, Thomas Pigott, conveyed America’s solidarity with the Philippines, asserting that China’s “dangerous actions which undermine regional stability” and its coercive territorial claims flout its own commitments to peaceful dispute resolution.