'Stupid…': Trump shocks China just before Xi Jinping meet, intensifies rare earths-100% tariff war?

President Trump provided an update on the ongoing U.S.-China trade talks, confirming that both nations are preparing for high-level meetings in Malaysia next week ahead of his planned summit with Chinese President Xi Jinping in South Korea. Joined by Treasury Secretary Scott Bessent, Trump said the two countries are “in a very strong position” to make progress after months of escalating tariffs and disputes over China’s rare earth export controls. Trump reiterated that tariffs remain crucial to “national security,” boasting that they’ve given the U.S. “hundreds of billions of dollars” and forced China to return to the negotiating table.