US President Donald Trump said on Oct. 10 that Washington will impose an additional 100% tariff on imports from China starting Nov. 1.
In a post on Truth Social, Trump added the US will also begin, on the same date, imposing controls on exports of “any and all critical software,” a move that would further escalate trade tensions between the world’s two largest economies.
The announcement came hours after Trump threatened a “massive” tariff hike in response to Beijing’s new curbs on rare-earth exports.
Trump had earlier signaled he might cancel his meeting with Chinese President Xi Jinping at the APEC Summit due in two weeks, in protest at China’s latest steps.
China accounts for about 70% of global supply of rare-earth minerals used in technology, defense and semiconductor manufacturing.
US President Donald Trump said on Oct. 10 that Washington will impose an additional 100% tariff on imports from China starting Nov. 1.
In a post on Truth Social, Trump added the US will also begin, on the same date, imposing controls on exports of “any and all critical software,” a move that would further escalate trade tensions between the world’s two largest economies.
The announcement came hours after Trump threatened a “massive” tariff hike in response to Beijing’s new curbs on rare-earth exports.
Trump had earlier signaled he might cancel his meeting with Chinese President Xi Jinping at the APEC Summit due in two weeks, in protest at China’s latest steps.
China accounts for about 70% of global supply of rare-earth minerals used in technology, defense and semiconductor manufacturing.
