President Trump has raised concerns about the upcoming meeting with Chinese President Xi Jinping, threatening to cancel it and impose significant tariffs on China due to new export controls. This situation is crucial as it highlights the ongoing trade tensions between the two countries, which could have far-reaching implications for global markets and economic relations.

President Trump has decided to cancel a planned meeting with Chinese leader Xi Jinping, citing China's recent imposition of new export controls on rare earth materials as a hostile act. This decision underscores the escalating tensions between the two nations and raises concerns about the potential impact on global supply chains. Trump's warning of 'massive' tariffs reflects a growing frustration with China's trade practices, which could have significant repercussions for international markets and economies.