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US President Donald Trump wrote on Truth Social on Friday that the US will impose 100% tariffs on Chinese goods from November 1, in addition to any tariffs currently being paid. From the same day, export control will also be implemented on all important software.
Trump has made this announcement in return for further tightening of restrictions on the export of rare earth metals from China. While expanding its control list, China has also imposed restrictions on those technologies which are used in the military and semiconductor industry.
In fact, China has added elements holmium, erbium, thulium, europium and ytterbium to the existing list of banned minerals. After China’s decision, export license will be necessary for the technologies related to mining, smelting and magnet production of these elements.
President Trump said after China’s announcement – Many countries have contacted us who are extremely angry with this big trade protest by China. Therefore, now there is no reason to meet Xi Jinping in APEC.
However, it is still not clear how Trump will implement his threats and how China will respond. But during the discussion with the media, Trump told that at present he has not canceled his meeting.
President Trump’s post on social media truth
Trump wrote-
China is becoming very aggressive. It is holding the world captive by restricting access to the metals and magnets used in electronics, computer chips, lasers, jet engines and other technologies. We have been contacted by many countries who are extremely angry at this huge trade protest that has started so suddenly. I was supposed to meet Chinese President Xi Jinping at the APEC Summit in South Korea in two weeks, but there is no reason to do so now.
Impact of President Trump’s announcement
On relations with China…
This announcement, made after the market closed on Friday, can cause turmoil in the global economy. Not only will this reignite Trump’s global trade war, but imposing an import tax on top of the 30% tax already imposed on Chinese goods could create a rift in trade between the two countries.
The tariff trade war between the US and China started when Trump imposed 145% tariff on Chinese goods, in response to which China imposed 125% import tax on American products. These taxes were so high that there was a virtual blockade on trade between the two countries. After negotiations, the US reduced the tariffs to 30% and China to 10% so that further negotiations could take place.
With Trump’s threat of new import taxes, the relief provided by these low rates may now come to an end. Which will not only increase the doubt whether Trump and Xi Jinping will meet or not. In fact, it will also be difficult to decide how any dispute is resolved between the two countries.
On the American stock market…
Due to increasing tension between the world’s two largest economies, there was turmoil in the American stock market Wall Street. Nearly six out of every seven S&P 500 stocks fell. Almost everything, from big tech companies like Nvidia and Apple to shares of smaller companies trying to overcome the uncertainty over tariffs and trade, weakened.
The S&P 500 index was down 2.7% by market close. The Dow Jones Industrial Average fell 878 points/1.9%. The Nasdaq Composite Index closed down 3.6%.
US President Trump had announced the imposition of tariffs on 69 countries in the Rose Garden of the White House on April 2, 2025.
Timeline of Trump’s tariff game
5 March 2025: President Donald Trump announced the imposition of tariffs on countries around the world in the joint session of the US Parliament. He said that our economy is continuously going into losses. To avoid this loss, we will impose tariffs on all those countries who impose tariffs on our goods.
2 April 2025: Trump announced imposition of tariffs on 69 countries including India. It was scheduled to come into effect from April 9, but Trump then postponed it. The US President said that he is giving 90 days to countries around the world to reach an agreement with America.
31 July 2025: The agreement has expired. On this day Trump imposed tariffs on more than 100 countries. Countries that signed an agreement with the US were slapped with a 10 to 20% tariff, and countries that did not did so were slapped with a 25 to 50% tariff.
Read this news also…
More than 100 countries scared of Trump’s threat: Made a trade deal with America, 5 countries including India did not bow down; How will you cope with the restrictions?
On April 2, it was announced to impose tariffs on 69 countries including India. It was scheduled to come into effect from April 9, but Trump then postponed it. On July 31, Trump imposed tariffs on more than 100 countries. Countries that signed an agreement with the US were slapped with a 10 to 20% tariff, and countries that did not did so were slapped with a 25 to 50% tariff. A tariff of 25% was imposed on India because it did not accept Trump’s conditions.
In the story, know about the countries that bowed to Trump’s threats, you will also know about those who did not surrender to America, know what are the options they have now…Read the full news…
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