US President Donald Trump announced additional 100 percent tariffs on China. He also threatened to cancel a summit with Chinese President Xi Jinping which again sparked a trade war between the US and China.
Reported by AFP, Saturday (11/10/2025), Trump said the additional levies, plus US export controls on “all important software”. The new tariffs will take effect from November 1, 2025 in response to what it calls Beijing’s “extraordinarily aggressive” steps.
“It was impossible to believe China would take such action, but they did, and the rest is History,” Trump said on Truth Social.
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The stock market fell as the trade war between the United States and China heated up again, with the Nasdaq down 3.6 percent and the S&P 500 down 2.7 percent.
Chinese goods currently face US tariffs of 30 percent, below those that Trump imposed while accusing Beijing of aiding the fentanyl trade, and for alleged unfair practices.
Trump had threatened tariffs hours earlier in a shockingly long post on his Truth Social social network that said China had sent letters to countries around the world detailing export controls on rare earth minerals. Rare earth elements are critical to producing everything from smartphones and electric vehicles to military hardware and renewable energy technology. China dominates global production and processing of these materials.
“There is no way China will be allowed to ‘capture’ the world,” Trump wrote, describing China’s attitude as “extremely hostile.”
The US President then questioned his plans to meet with Chinese President Xi Jinping at the Asia-Pacific Economic Cooperation (APEC) Summit later this month. The meeting would have been the first between the leaders of the world’s two largest economies since Trump returned to power in January.
“I was supposed to meet President Xi in two weeks, at APEC, in South Korea, but now there seems to be no reason to do so,” he wrote.
Trump later told reporters in the Oval Office that he had not canceled the meeting.
“I haven’t canceled it, but I don’t know if we’re going to have it. But I’m going to be there anyway, so I assume we probably will,” he said.
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