United States President Donald Trump announced on Friday (local time) that Washington will slap a 100 per cent tariff on all Chinese goods beginning November 1, escalating the ongoing trade confrontation between the two largest economies. The new tariff, Trump said, would be applied “over and above any Tariff that they are currently paying.”
The decision follows Beijing’s declaration that it will impose extensive export restrictions on rare earth minerals -- critical for technology and manufacturing — starting the same day. In response, Trump also revealed that the U.S. would enforce export controls on “any and all critical software.”
In a lengthy post on Truth Social, Trump condemned China’s actions, calling them a “moral disgrace in dealing with other Nations.” He wrote, “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.”
According to the president, China’s new trade stance “affects ALL Countries, without exception,” describing it as “absolutely unheard of in International Trade.” Trump accused Beijing of devising this plan “years ago,” 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... the United States of America will impose a Tariff of 100% on China.”
Earlier in the day, Trump hinted at forthcoming action, remarking that “some very strange things are happening in China.” He said he was “surprised” by Beijing’s move and noted that he had not spoken to Chinese President Xi Jinping “because there was no reason to do so.”
“I was to meet President Xi in two weeks, at APEC, in South Korea, but now there seems to be no reason to do so,” Trump added. He expressed disappointment, noting that relations with China had been “a very good one” over the past six months, before warning that the U.S. was prepared to use its “monopoly positions” against China.
Trump said, “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!”
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
