U.S. President Donald Trump said that the 100% tariffs on goods imported from China will not last long. He attributed the move to China’s restrictions on rare earth exports.
Trump announced last week that he was imposing 100% tariffs on Chinese products. He called the measure necessary and emphasized the need for a fair trade deal with China.
The president also confirmed that he will meet Chinese President Xi Jinping in South Korea in two weeks.
Trump’s statement helped ease pessimism in the stock market. U.S. stock indexes rose slightly on the last trading day of the week.
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