US will impose additional 100% tariff on Chinese imports from November, Trump says

The United States of America will slap an additional 100 per cent tariff on imports from China and impose export controls on all critical US-made software from November 1, President Donald Trump said on Friday (Oct 10).

In a post on Truth Social, Trump said: “Starting November 1st, 2025 (or sooner, depending on any further actions or changes taken by China), the United States of America will impose a Tariff of 100 per cent on China, over and above any Tariff that they are currently paying.”

Trump said the extra levies, plus US export controls on “any and all critical software,” would come into effect from November 1 in retaliation for what he called Beijing’s “extraordinarily aggressive” moves.

“It is impossible to believe that China would have taken such an action, but they have, and the rest is History,” he said on Truth Social.

Stock markets fell as the simmering trade war between the United States and China reignited, with the NASDAQ down 3.6 per cent and the S&P 500 down 2.7 per cent.

Chinese goods currently face US tariffs of 30 per cent under tariffs that Trump brought in while accusing Beijing of aiding in the fentanyl trade, and over alleged unfair practices.

China’s retaliatory tariffs are currently at 10 per cent.

Trump had threatened the tariffs hours earlier in a lengthy surprise post on his Truth Social network that said China had sent letters to countries around the world detailing export controls on rare earth minerals.

Source: channelnewsasia.com