Trump signals possible 200% tariffs on Chinese rare-earth magnets

President Donald Trump signaled a willingness to impose tariffs as high as 200 percent on Chinese rare-earth magnets if Beijing does not continue to supply them to the United States, a move that would complicate already fragile trade negotiations and threaten a tentative truce in the two countries’ broader dispute. The remarks were made at the White House during meetings with South Korea’s president, with Trump saying China must provide magnets or face steep duties, while acknowledging that such measures would risk a broader breakdown in bilateral trade. He also asserted that Washington possesses “incredible cards” to press its leverage, though he added he did not intend to use them.

The hard line comes amid a broader U.S. effort to secure critical materials that feed a wide range of industries, including electronics, automotive manufacturing, and defense. Magnets, especially rare-earth magnets, are central to many modern technologies and are largely produced in China, which accounts for the vast majority of global supply. Beijing has previously tightened export controls on rare-earth elements in response to U.S. tariffs, heightening concerns in Washington about the reliability...