President Donald Trump has announced that, effective November 1 (or sooner), the United States will impose an additional 100% tariff on Chinese imports, on top of the tariffs China is already paying.
Posting on Truth Social, Trump said:
“Starting November 1st, 2025 (or sooner), the United States of America will impose a Tariff of 100% on China, over and above any Tariff that they are currently paying.”
He also signalled that the U.S would implement export controls on all critical software, amplifying the economic pressure on China.
Trump’s move comes in response to recent Chinese decisions to tighten export restrictions on rare earth materials, key inputs for high‑tech and defense industries.
In his announcement, Trump threatened to pull out of an expected meeting with President Xi Jinping in South Korea, citing escalating tensions.
Market reactions were swift and negative: the S&P 500 fell 2.7%, with declines also in the Dow and Nasdaq.
