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 export controls

Heads of state from the U.S. and China had planned to convene next week in South Korea, amid prolonged and ongoing trade tensions between the two nations. It seems like this meeting is now off the table, as President Trump has just posted a scathing message on his Truth Social platform, accusing China of monopolizing every element of the rare earth mineral pipeline. In retaliation, “massive increases of tariffs” are being mulled for Chinese products entering America, among other moves that would appear…