US ratchets up trade war with China with new 100% tariffs, but says meeting with Xi not cancelled

The Star

The US administration potentially revived its trade war with Beijing, with additional levies of 100% on China's US-bound exports, along with new export controls on "any and all critical software" by Nov 1, nine days before their existing tariff relief is set to expire.  This comes after China expanded its rare earth element export controls. However, US President Donald Trump said he had not cancelled a meeting planned in about three weeks with Chinese President Xi Jinping.  WATCH MORE: https://thestartv.com/c/news SUBSCRIBE: https://cutt.ly/TheStar LIKE: https://fb.com/TheStarOnline

Transcript

00:00It's a good one.

00:30I think that the two countries are going to fight against each other,

00:37it's going to be twofold.

00:41Whether it's for China or for the United States,

00:44it's not a big deal.

00:49It's worth it.

00:51It's worth it.

00:54It's worth it.

00:56I don't care about the everyday products of the day-to-day products.

00:59I think that in this part,

01:01it's not to open up high-end products.

01:04The country is still able to do this.

01:07But high-end products,

01:08I think now,

01:10the market also has a space for each other.

01:15We have high-end products,

01:16and we don't have high-end products.

01:26We're going to have it.

01:27But I'm going to be there regardless,

01:29so I would assume we might have it.

01:31But, you know, they hit the world with something

01:34that really is not anything that people are going to do.

01:38And it was shocking, I can tell you.

01:41Howard and I and Todd, we all,

01:44Scott, we were all speaking about it before.

01:47And it was, we said, where did that come from?

01:50It was just, that was out of the blue, right?

01:53Out of the blue, they came up with this whole import-export concept.

01:58And nobody, nobody knew anything about it.

02:02President, if they roll back their export controls,

02:04the new announcement, would you roll back?

02:06Look, we're going to have to see what happens.

02:08That's why I made it November 1st.

02:09We'll see what, what happens.

02:11What else besides software could be on the table

02:13in terms of export controls?

02:15Oh, a lot more. A lot more.

02:16I mean, you have, you have a lot more.

02:19We have airplanes, we have airplane parts.

02:22You remember that from last time.

02:24And we were just surprised at China.

02:25I have a very good relationship with President Xi.

02:27And they did that.

02:28This is not something that I, you know, instigated.

02:31This was just a response to something that they did.

02:34And they didn't really aim it at us.

02:37They aimed it at the whole world.

02:38The whole world is, is subject to it.

02:42So I thought it was very, very bad.

02:44But we have many things, including a big thing is Arapah.

02:46They have a lot of Boeing planes and they need parts

02:48and lots of things like that.

02:51This is a tremendous victory.

02:54There is a lot of � 64 says,

03:04and the Carnegie 2 or C겠죠.

03:08Now I hear many things I want to know.

03:10And when you hear about you.

03:11But with that's not nice about life,

03:12this is a matter saying.

03:13What should we do?

03:14It's very unfortunate.

03:15Maybe next time we have great,

03:16there's a lot of surprises in this world.

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