As part of the rare earth elements dispute with China, it had been stated that a 100% tariff on Chinese products could be applied on November 1 or even earlier.
In relation to the matter, information was provided to CNBC by U.S. Trade Representative Jamieson Greer.
Greer stated, “This situation largely depends on what China will do. They were the ones who initiated a major escalation.”
Last week, China announced that it would impose comprehensive restrictions on the export of rare earth elements. This step is considered likely to cause serious disruptions in the U.S. defense, technology, semiconductor, and automotive sectors.
This decision, which unexpectedly caught the White House off guard, came ahead of the expected meeting between Trump and Chinese President Xi Jinping at the Asia-Pacific Economic Cooperation (APEC) summit scheduled to be held in Seoul, South Korea, later this month.
Stay tuned for the latest developments
