Donald Trump’s 100% tariff on China: Beijing seeks fresh trade talks with US; wants discussions ‘as soon as possible’

China has agreed to hold a fresh round of trade talks with the US “as soon as possible,” as both economic giants aim to avoid another cycle of damaging tariffs.The decision followed a video call between Beijing’s chief negotiator, Vice Premier He Lifeng, and US treasury secretary Scott Bessent. State news agency Xinhua, on Saturday, described the discussion as involving “candid, in-depth and constructive exchanges.”US President Donald Trump had said that Tensions between the US and China escalated after Trump announced plans to impose an additional 100% tariff on Chinese goods from November 1, following China’s restrictions on rare earth mineral exports.With the additional tariffs, Chinese imports to the country now face a total of 130% duty. Washington’s move was in repoonse to China’s restriction on its rare earth exports.“Based on the fact that China has taken this unprecedented position… the United States of America will impose a Tariff of 100% on China, over and above any Tariff that they are currently paying,” Trump said on Truth Social.In response, Beijing warned of retaliation if the US goes ahead with the tariff threat and“Wilful threats of high tariffs are not the right way to get along with China,” a spokesperson for the commerce ministry said on Sunday, according to state news agency Xinhua.Meanwhile, despite Trump’s earlier statement that he would not meet Xi at this month’s Asia-Pacific Economic Cooperation (APEC) summit, a meeting between the two leaders still appears possible. US Treasury Secretary Scott Bessent said he continues to expect the meeting to take place. “He will be meeting with Party Chair Xi in Korea – I believe that meeting will still go ahead,” Bessent told Fox Business.