China suggests it won’t back down against tariff threat as Trump says ‘it will all be fine’
1. China refuses to yield to Trump's 100% tariff threat, emphasizing negotiation over aggression. 2. Trump's tariff threat caused a 2.7% drop in the S&P 500, its worst day in six months. 3. Summer trade truce risks failing, threatening further escalation in the trade war. 4. China controls 70% of rare earths, critical for U.S. tech and military applications. 5. Trump's administration emphasizes economic self-sufficiency and national security over reliance on China.