U.S. President Donald Trump has warned that the United States holds “incredible cards” against China, saying that if he chose to play them, it would “destroy China.” Speaking at the Oval Office alongside South Korean President Lee Jae Myung, Trump hinted at possible tariffs of up to 200% if Beijing does not ease restrictions on rare earth exports. His remarks come amid a fragile 90-day trade truce with China, extended earlier this month. Trump confirmed he had recently spoken with Chinese President Xi Jinping and may visit China this year following Xi’s invitation. The U.S. president also emphasised America’s economic leverage, pointing to past tariff hikes as high as 145% before moderating to 30%. Treasury Secretary Scott Bessent added that China’s continued oil trade with Russia and Iran remains a major concern, underscoring the administration’s push to limit Beijing’s global influence. Watch the full press conference here.
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26 August 2025
