Trump suggests ‘massive increase' of tariffs on China. Here's what's behind the threat.

Core Viewpoint - The cancellation of the meeting between Trump and Xi in South Korea is linked to the recent actions regarding rare-earth materials, indicating heightened tensions between the U.S. and China in trade relations [1] Group 1: Trade Relations - The U.S. has taken steps to limit the export of rare-earth materials, which are critical for various industries, including technology and defense [1] - China's response to the U.S. actions includes potential restrictions on its rare-earth exports, which could impact global supply chains [1] Group 2: Political Implications - The cancellation of the meeting signifies a deterioration in diplomatic relations, which could lead to further escalations in trade disputes [1] - Analysts suggest that the ongoing tensions may affect investor sentiment and market stability, particularly in sectors reliant on rare-earth materials [1]