Trump threatens 200% tariff hike for China if no rare-earth magnets supplied

The US president threatened Beijing with a steep tariff increase if the country did not supply rare-earth magnets, which are crucial for a range of products, such as smartphones and electric vehicles, to Washington.

Another tariff threat from Washington: US president Donald Trump told journalists on Monday that China could face 200% tariffs if it did not supply the United States with rare-earth magnets.

China is the world’s largest…