China has warned it will retaliate if President Donald Trump follows through on his threat to impose 100% tariffs on all Chinese imports, reigniting tensions between the world’s two largest economies.

Trump’s move came after Beijing expanded export restrictions on rare earth metals, materials vital for semiconductors, defense technologies, and electric vehicles. The new Chinese rules require global companies using even trace amounts of these metals to apply for export licenses, tightening control over a sector where China dominates about 90% of global processing.

Beijing’s Ministry of Commerce accused Washington of: “double standards,” noting the U.S. has also broadened its own semiconductor export bans. Trump responded by warning tariffs could take effect by 1 November and threatened to cancel a planned meeting with Xi Jinping at the upcoming APEC summit; though he later softened his tone, saying relations with China: “will be fine.”