China not buying American soybeans is an economically hostile act, says Trump

In a post on Tuesday afternoon (14) on his social media (Truth Social), United States President Donald Trump said that China not buying American soybeans is an "economically hostile act." "We are considering ending business with China related to cooking oil and other trade elements as retaliation," he said. The White House official also emphasized that the country can easily produce cooking oil without needing to import from the Asian country. Trump's remarks are another chapter in the escalation of tensions between the two nations seen in recent days. Last Friday (10), the Republican criticized China's initiative to restrict shipments of rare earth elements, and shortly thereafter announced that his government would impose an additional 100% tariff on products imported from China starting November 1. In response, the Asian giant called the 100% tariffs imposed by the U.S. president "hypocritical." China's Ministry of Commerce reinforced that "threatening to impose high tariffs at ...