“Don’t worry about China — everything will be fine. President Xi Jinping has gone through a rough moment. He doesn’t want his country to fall into a major depression, and neither do I,” Trump wrote on Truth Social on October 12, adding that America “wants to help, not hurt” China.
The statement marked a softer approach toward Beijing, coming shortly after Trump announced an additional 100% tariff on Chinese goods in response to China’s restrictions on rare earth exports. The U.S. president had earlier threatened to cancel his planned meeting with Xi at the Asia-Pacific Economic Cooperation (APEC) summit later this month, fueling concerns that the trade war between the world’s two largest economies could reignite.
China condemned the new U.S. tariffs as unfair, calling Trump’s actions “a typical example of double standards.” The Chinese Ministry of Commerce accused Washington of escalating economic measures against Beijing since September, warning that “constant threats of high tariffs are not the right approach to cooperation.”
Earlier this year, the two nations exchanged retaliatory tariffs after Trump introduced reciprocal duties on several major trading partners. Some Chinese imports now face U.S. tariffs as high as 245%.
Following multiple rounds of negotiations, both sides agreed in midyear to ease tensions, with current U.S. tariffs on Chinese goods standing at 30%, while China maintains a 10% rate on U.S. imports.