Title: Trump Proposes Increased Tariffs on China Amid Trade Tensions

WASHINGTON — President Donald Trump announced on Friday that he no longer sees a need for a summit with Chinese President Xi Jinping, citing Beijing's recent trade practices as hostile. In a lengthy post on Truth Social, Trump criticized China for imposing export controls on rare earth minerals, which are essential for modern technology.

"Some very strange things are happening in China! They are becoming very hostile," Trump stated, as he was on his way to a medical appointment at a military hospital near Washington. He mentioned that he was scheduled to meet Xi in two weeks at the Asia-Pacific Economic Cooperation (APEC) summit in South Korea but now believes there is no reason to proceed with the meeting.

Trump indicated that his administration is considering a "massive increase" in tariffs on Chinese imports. This announcement caused Wall Street to react negatively, with stocks dropping as fears of a renewed trade war between the U.S. and China resurfaced.

Just last week, Trump had emphasized the importance of the upcoming meeting with Xi, which would have marked their first encounter since he returned to office in January. He had also expressed intentions to visit China next year. However, in his recent post, Trump claimed that China had sent letters globally detailing export controls on all aspects of rare earth production.

"There is no way that China should be allowed to hold the World 'captive,' but that seems to have been their plan for quite some time," he wrote. Trump accused China of being deceptive despite what he described as six months of improved relations. He also suggested that the timing of China's announcement might have been an attempt to overshadow a ceasefire deal he brokered between Israel and Hamas.

Rare earth elements are crucial for manufacturing a wide range of products, including smartphones, electric vehicles, and military equipment. China currently dominates the global production and processing of these materials. Trump noted that other countries have expressed frustration over China's sudden trade hostility, which he characterized as a move to establish monopolies on essential components.

"Dependent on what China says about the hostile 'order' that they have just put out, I will be forced, as President of the United States of America, to financially counter their move," he stated.

Earlier this year, the U.S. and China engaged in a tit-for-tat tariff war that threatened to disrupt trade between the two largest economies. Although both sides had agreed to de-escalate tensions, the truce remains fragile. Trump also mentioned that he would address U.S. soybean purchases with Xi, as American farmers are facing challenges from the ongoing trade disputes.

In a related development, China announced it would impose "special port fees" on ships built and operated by the United States, following Washington's earlier charges on Chinese-linked vessels. The situation continues to evolve as both nations navigate their complex trade relationship.