US EditionTrump announces extra 100% tariff on China imports, adds export controls on ‘critical software’
- On Thursday, Beijing announced new export restrictions on strategic minerals to protect national security and meet non-proliferation obligations, prompting President Donald Trump to vow strong retaliation and threaten to cancel a planned meeting with Chinese President Xi Jinping at APEC.
- China's Commerce Ministry said the new curbs are intended to protect national security and meet non-proliferation obligations, covering rare earth elements mining, smelting, and magnetic material production.
- Based on the fact that China has taken this unprecedented position, Trump wrote on Truth Social that starting November 1st, 2025, the U.S. will impose a 100% tariff on China.
- Financial markets reacted sharply, with the S&P 500 closing 2.7% lower amid the prospect of renewed confrontation and announced U.S. tariff plans; earlier curbs caused disruption for American firms.
- The escalation threatens to derail planned trade discussions between Trump and Xi later this month, with China's rare earths dominance and the $84 billion to $418 billion US-China trade deficit raising global supply chain risks.
619 Articles
619 Articles
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