Trump threatens to pull out of planned Xi meeting
Summary
President Donald Trump has said he might cancel a planned meeting with China's President Xi Jinping because of issues with China's export rules and an investigation into a U.S. tech company. Trump also mentioned a possible large increase in tariffs on Chinese products. These comments have caused financial markets in the U.S. to fall.Key Facts
- President Trump criticized China for changing its export rules on rare earths.
- China began an investigation into a major U.S. tech company.
- Trump accused China of trying to control global resources.
- He suggested canceling a meeting with China's President Xi Jinping.
- Trump mentioned a potential significant increase in tariffs on Chinese goods.
- The U.S. financial market responded with a drop, with the S&P 500 down about 1.4%.
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