Trump Announces Additional 100% Tariff on Chinese Goods

Darwin, October 11 — U.S. President Donald Trump has announced a new 100% additional tariff on goods imported from China, effective from next month. The announcement was made on Friday (October 10) via a post on his social media platform, Truth Social.

Trump also stated that the United States would impose export controls on all critical software.

Earlier, in another post on Truth Social, Trump criticized China, accusing the country of becoming “extremely hostile” by restricting exports of rare earth minerals. He claimed that China was attempting to “hold the world hostage” through these actions.

Trump further threatened to cancel a meeting with Chinese President Xi Jinping. However, he later clarified that the meeting had not yet been canceled, though he said he was not sure if it would go ahead.

Following Trump’s threat of imposing the additional 100% tariff on Chinese products, U.S. stock markets saw a significant drop.

Rare earth elements are crucial components in the production of cars, smartphones, and other essential electronics. China holds a dominant position in the global supply of these minerals.

Earlier this year, when Trump first hinted at new tariffs, Beijing responded by tightening restrictions on rare earth exports. U.S. companies dependent on these materials raised concerns at the time. Car manufacturer Ford even had to temporarily halt production due to supply chain disruptions.

In addition to limiting rare earth exports, China launched an antitrust investigation into U.S. tech giant Qualcomm, which could potentially halt the company’s ongoing acquisition of another chipmaker.

Although Qualcomm is based in the United States, a significant portion of its business is rooted in China.

China has also announced new port fees for ships associated with the United States, including vessels operated by American companies.

Tensions between China and the U.S. have been escalating since May of this year, and relations appear to be deteriorating further with each passing day.