NEW YORK — President Donald Trump announced Friday that the U.S. will impose 100% tariffs on all Chinese imports, effective November 1, escalating tensions in the ongoing trade dispute between Washington and Beijing.
The announcement, made via social media, follows China’s recent decision to implement sweeping export controls—a move Trump described as “extraordinarily aggressive.”
“It has just been learned that China has taken an extraordinarily aggressive position on trade,” Trump wrote, referencing a “hostile letter” Beijing allegedly sent to countries around the world. “They plan to, effective November 1st, 2025, impose large-scale export controls on virtually every product they make, and even some they don’t.”
In response, Trump not only pledged to slap 100% tariffs on Chinese goods, but also announced sweeping U.S. export controls, specifically targeting “any and all critical software.”
The president’s remarks triggered a sharp market reaction. The Dow Jones Industrial Average dropped 385 points (0.8%), while the S&P 500 fell 1.25% and the Nasdaq slid 1.75%, reflecting investor concerns about renewed trade hostilities.
The trade escalation follows Beijing’s decision just a day earlier to restrict exports of rare-earth minerals—key materials used in manufacturing semiconductors and advanced electronics, including artificial intelligence technologies and consumer devices.
Earlier Friday, Trump had already signaled a hardline stance, accusing China of trying to “hold the world captive” by threatening to limit access to rare earth elements. He claimed China had sent letters to multiple nations outlining plans to cut off exports of these essential materials.
“There is no way China should be allowed to hold the world ‘captive,’ but that seems to have been their plan for quite some time,” Trump said.
The president also suggested he might cancel a scheduled meeting with Chinese President Xi Jinping, planned for the upcoming APEC summit in South Korea in two weeks.
“This was a real surprise, not only to me, but to all the Leaders of the Free World,” Trump wrote. “There now seems to be no reason to meet.”
Trump acknowledged the new tariffs could be “potentially painful,” but framed them as necessary retaliation. Tariffs on Chinese imports had previously been scaled back to 30% from a high of 145% earlier in the year, under a temporary trade truce set to expire in less than a month.
With both nations now threatening major restrictions on trade, the fragile ceasefire between the U.S. and China appears increasingly at risk.
