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1 month ago
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In a major escalation of trade tensions between the world’s two largest economies, US President Donald Trump on Friday announced an additional tariff of 100 per cent on all Chinese imports, on top of levies already in place.
“Starting November 1st, 2025 (or sooner, depending on any further actions or changes taken by China), the United States of America will impose a tariff of 100 per cent on China, over and above any tariff that they are currently paying”, he said in a social media post.
“Also on November 1st, we will impose Export Controls on any and all critical software”, the “America first” advocate added, accusing Beijing of “hostile” trade behaviour after it further expanded export controls on rare earth elements.
Trump described China’s actions as “absolutely unheard of in International Trade, and a moral disgrace in dealing with other nations”.
Earlier in the day, he appeared to cancel a planned meeting with Chinese President Xi Jinping and threatened “massive” tariffs.
Trump claimed that countries “throughout the world” had received “letters” from China expressing intentions to “impose export controls on each and every element of production having to do with rare earths, and virtually anything else they can think of, even if it’s not manufactured in China”.
