President Trump warns of massively increased tariffs in wake of China's rare earth mineral 'monopoly position' — Xi Jinping meeting cancelled as Trump promises retaliation for Beijing's expanded

President Trump, in a fiery Truth Social post, has just warned China about potential new tarriffs as a response to Beijing's expanded export controls surrounding rare earth minerals. Trump says for every element China monopolizes, America has two, and that other moves are also being considered in retaliation.