China, Trump Stand Firm Amid Tariff Threats

BEIJING (AP) — China is signaling that it won’t back down in the face of the latest tariff threat from U.S. President Donald Trump. The Commerce Ministry said Sunday that China prefers negotiations over threats, but is not afraid of a tariff war. Trump has threatened to increase taxes on Chinese imports by November 1st, due to new Chinese restrictions on rare earth exports. These tensions could derail a potential meeting between Trump and Chinese leader Xi Jinping. Both countries accuse each other of violating a trade truce. China criticized the U.S. for frequently resorting to tariff threats, urging dialogue instead.