President Donald Trump has said that there is now no reason to meet with Chinese President Xi Jinping and that he is weighing "massive increases" in tariffs on Chinese imports, according to a social media post on Friday. This after the Chinese government's announcement of new trade limits on crucial rare earth elements and related technologies.

Arlan Suderman, Chief Commodities Economist at StoneX, joins us to discuss the immediate market reaction to Trump's statement and more in our Midday Commentary.