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,

President Donald Trump has warned Beijing that the United States will impose a 200 per cent tariff if China refuses to supply it with rare-earth magnets, escalating tensions in an ongoing trade dispute between the world’s two largest economies.

Earlier this month, Trump signed an order to extend a tariff truce with China by 90 days, just hours before higher tariffs were due to take effect.