President Trump warned of “big punishment” for China after Beijing halted American soybean purchases, calling it an “economically hostile act.” He threatened to terminate trade involving cooking oil and impose a 100% tariff on Chinese goods starting November 1. The escalation marks a sharp turn in U.S.-China trade tensions, with Trump accusing Beijing of weaponizing rare earth exports. China denounced Washington’s “double standards” and vowed “resolute measures” in response, deepening fears of a renewed and potentially severe trade war.


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