WASHINGTON — President Donald Trump said Friday that “there seems to be no reason” to meet with Chinese leader Xi Jinping as part of an upcoming trip to South Korea and threatened additional tariffs after China restricted exports of rare earths needed for American industry.

The Republican president suggested that he was looking at a “massive increase” of import taxes on Chinese products in response to Xi’s moves. It’s possible that this could amount to either posturing by the United States for eventual negotiations or a retaliatory step that could foster new fears about the stability of the global economy.

“One of the Policies that we are calculating at this moment is a massive increase of Tariffs on Chinese products coming into the United States of America,” Trump posted on his Truth So

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