President Donald Trump took to Truth Social Friday to announce the U.S. will impose an additional 100% tariff on imports from China beginning in November.
The announcement was made hours after a separate post from Trump, in which he warned of possible new tariffs and suggested canceling a meeting with Chinese President Xi Jinping, claiming Beijing was planning sweeping export controls on rare earth minerals.
“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,” Trump posted to Truth Social Friday afternoon.
STOCKS FALL AS US-CHINA TRADE WAR REIGNITES AFTER TRUMP THREATENS TARIFF HIKE
“Also on November 1st, we will impose Export Controls on any and all critical software.”
In the Truth Social post, Trump argued that China has taken an “extremely aggressive” stance on global trade.
TRUMP THREATENS ‘MASSIVE’ TARIFF INCREASE ON CHINA AMID DISPUTE OVER RARE EARTH MINERALS
“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,” Trump said.
“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.”
The announcement came just hours after Trump warned of the possibility of fresh tariffs, claiming China had been telling other countries it wants to impose export controls on rare earth minerals, which are critical components for advanced technologies ranging from semiconductors to smartphones.
TRUMP PROPOSES LEVELING PLAYING FIELD WITH CHINA ON FLIGHTS OVER RUSSIA TO AND FROM US
“Some very strange things are happening in China!” Trump posted earlier Friday. “They are becoming very hostile, and sending letters to Countries throughout the World, that they want 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.”
The escalation jolted global markets on Friday, sending the S&P 500 down more than 2%, its steepest one-day drop since April, Reuters reported.
On Thursday, China expanded its export controls on rare earth elements. The country supplies over 90% of the world’s processed rare earths and rare earth magnets, according to Reuters.
FOX Business’ Eric Revell contributed to this report.
