Trump says China has to give US magnets or face 200% tariff

US President Donald Trump told reporters on Monday that China has to give the United States magnets or "we have to charge them 200% tariff or something" amid a trade dispute between the two nations.

China is increasingly sensitive about rare earths and its control over supply, adding several rare earth items and magnets to its export restriction list in April in retaliation to tariff hikes by the United States.