China is ready to retaliate against President Donald Trump if he follows through on his latest threat.

Trump announced Friday that the United States would impose a new 100% tariff “over and above any Tariff that they are currently paying” starting Nov. 1 or sooner. He also said he would implement export controls on “any and all critical software.”

His announcement came after China increased restrictions the day prior on exports of its rare earths minerals, which make up around 70% of the global supply. Trump and Chinese leader Xi Jinping are expected to meet on the sidelines of the Asia-Pacific Economic Cooperation summit later this month — a meeting which the president implied he might cancel.

Lin Jian, a spokesperson for the Foreign Ministry, said on Monday the United States h

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