US President Donald Trump during a meeting with Lee Jae Myung, South Korea's president, not pictured, in the Oval Office of the White House in Washington, DC, US, on Monday, Aug. 25, 2025. U.S. President Donald Trump on Monday stateside warned of steeper tariffs on China if exports of rare-earth magnets were curbed, threatening a precarious trade truce between the world's two largest economies. "They have to give us magnets, if they don't give us magnets, then we have to charge them 200% tariffs or somethin ...