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| US president , Donald Trump and the president of China , Xi Jinping /Photo /Getty. |
US President Donald Trump has lashed out at China for suspending purchases of American soybeans, calling the move an “economically hostile act” and warning that Washington could retaliate by halting imports of cooking oil and other goods from the world’s second-largest economy.
“We are considering terminating business with China having to do with Cooking Oil, and other elements of Trade, as retribution,” Trump wrote on his Truth Social platform on Tuesday, October 14.
The remarks came just hours after the president struck a more conciliatory tone when speaking to reporters at the White House, saying: “We have a fair relationship with China, and I think it’ll be fine. And if it’s not, that’s okay too.”
The back-and-forth comments underscore renewed trade tensions between the two economic superpowers during Trump’s second term, with tariffs once again soaring into the triple digits on key imports.
In a separate interview with the Financial Times on Monday, US Treasury Secretary Scott Bessent accused Beijing of trying to destabilize global markets after it imposed sweeping export controls on rare earth materials, which are vital for high-tech manufacturing and defense industries.
Trump told reporters the US must remain “careful” in its dealings with Beijing, emphasizing his complex relationship with Chinese President Xi Jinping.
“I have a great relationship with President Xi, but sometimes it gets testy because China likes to take advantage of people,” he said. “When punches are thrown, you’ve got to put up the blocks.”
The president’s online statement also acknowledged the strain China’s soybean halt is placing on American farmers, a key political constituency for Trump. US exports of animal fats, greases, and processed oils, including used cooking oil, have surged in recent years, driven by booming domestic demand for biofuels.
Despite occasional attempts to cool tensions, the trade truce between Washington and Beijing remains fragile.
After China imposed new restrictions on rare earth exports, Trump announced plans to introduce a 100 percent tariff on Chinese goods starting November 1, a move that US Trade Representative Jamieson Greer said could be accelerated depending on Beijing’s next steps.“Much depends on what the Chinese do,” Greer said in an interview with CNBC, adding that Beijing had “chosen to make this major escalation
China remains the world’s largest producer of rare earth minerals, which are critical for the production of magnets used in electronics, electric vehicles, and defense systems.Bessent described Beijing’s latest measures as evidence of a “weak economy” attempting to “pull everybody else down with them.”
Tensions have also spilled into diplomacy. Last week, Trump hinted he might cancel a planned meeting with President Xi at the upcoming Asia-Pacific Economic Cooperation (APEC) summit, citing China’s trade policies.
Beijing responded by accusing the United States of “double standards”, while vowing on Tuesday, October 14, that it was ready to “fight to the end” if a full-scale trade war resumed.With both governments digging in, analysts warn that the renewed US-China confrontation could have global economic repercussions, potentially disrupting supply chains, raising prices, and further straining diplomatic ties between Washington and Beijing.