<h1>President vows 'fantastic' trade deal with China, threatens 100% tariff after Beijing tightens rare earth export controls</h1> The U.S. president said a forthcoming meeting with the Chinese president will yield a 'fantastic' trade deal, after Beijing expanded export controls on rare earths; he threatened a 100% tariff if no agreement is reached and cited earlier tariff increases already imposed. Tensions have prompted both conciliatory rhetoric and hardline measures, with the U.S. signaling additional leverage over parts and aerospace supply chains. Beijing replaced its top trade negotiator in a routine personnel move amid ongoing exchanges between economic officials and plans for renewed talks ahead of an Asia-Pacific summit.