Trump Drops New 100% Tariff on China
(AP Photo/Alex Brandon)
President Donald Trump announced on Friday that he was levying a new 100% tariff on China. Trump made the announcement after China tightened its rules on rare earth minerals, forcing exporters to obtain a license from the government.
“It has just been learned that China has taken an extraordinarily aggressive position on Trade in sending an extremely hostile letter to the World, stating that they were going to, effective November 1st, 2025, impose large scale Export Controls on virtually every product they make, and some not even made by them. This affects ALL Countries, without exception, and was obviously a plan devised by them years ago. It is absolutely unheard of in International Trade, and a moral disgrace in dealing with other Nations,’ Trump wrote on Truth Social, adding:
Based on the fact that China has taken this unprecedented position, and speaking only for the U.S.A., and not other Nations who were similarly threatened, 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% on China, over and above any Tariff that they are currently paying. Also on November 1st, we will impose Export Controls on any and all critical software.
It is impossible to believe that China would have taken such an action, but they have, and the rest is History. Thank you for your attention to this matter!
Trump had threatened to increase the tariffs earlier in the day, causing a sell-off in the markets. The Dow closed down 876 points, or 1.9 percent, while the S&P 500 fell 2.7 percent.
