'Playing those cards would destroy', Trump warns China

US President Donald Trump warned Beijing on Monday that it must supply rare earth magnets or face tariffs as high as 200 per cent, even as he hinted at a possible visit to China later this year. "They have to give us magnets," he said, referencing China’s role as the leading producer of rare earth elements critical for magnets used in industries ranging from automotive to defence.The announcement came during Trump’s meeting with South Korean President Lee Jae Myung in Washington, where he addressed reporters about the state of US-China relations and his recent conversations with Chinese President Xi Jinping. "At some point, probably during this year or shortly thereafter, we’ll go to China," Trump said. "We’re going to have a great relationship with China."

#WATCH | Washington DC | "We are going to have a great relationship with China...They have some cards. We have incredible cards, but I don't want to play those cards. If I play those cards, that would destroy China. I am not going to play those cards" says US President Donald… pic.twitter.com/PDlNPkkmm2

— ANI (@ANI) August 25, 2025

Rare earth minerals remain central to the trade friction. These materials, used in everything from smartphones to fighter jets, are seen by Washington as a strategic vulnerability given Beijing’s dominant role in production. Both sides recently agreed to extend the tariff freeze for 90 days, pushing back the reimposition of higher duties until November 10. This pause suggests both governments are seeking more time to find common ground.