NEW YORK — President Donald Trump announced Friday he would implement 100% tariffs on China starting next month after earlier threatening to cancel his upcoming meeting with Chinese President Xi Jinping.
In a social media post, Trump said the new tariffs would take effect Nov. 1.
Trump said the move comes in response to China’s “extraordinarily aggressive position on trade” related to export controls.
“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,” Trump said.
In addition to the tariffs, Trump added that the U.S. would impose “Export Controls on any and all critical software.”
The social media post came after Trump threatened tariffs earlier in the day, triggering a stock selloff. The Dow Jones Industrial Average tumbled 385 points, or 0.8%. While the S&P 500 fell 1.25% and the tech-heavy Nasdaq dropped 1.75%.
Trump’s announcement came a day after China imposed new restrictions on rare-earth minerals, key materials in the production of semiconductors used for everything from artificial intelligence to home appliances.
Trump kickstarted the feud in a social media post earlier in the day where he claimed China had sent letters to countries around the world threatening to impose export controls on “each and every element of production having to do with Rare Earths.”
“There is no way that China should be allowed to hold the World ‘captive,'” but that seems to have been their plan for quite some time,” Trump said.
In retaliation, Trump threatened a “massive increase” on tariffs on Chinese products coming into the US, even though he said the move would be “potentially painful.”
Tariffs on Chinese imports into the US currently stand at 30%, down from the high point of 145% earlier this year.
Trump also threatened to cancel an upcoming meeting with Jinping.
“This was a real surprise, not only to me, but to all the Leaders of the Free World. 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 said in his earlier post.
This comes as the trade truce between the US and China is still in effect but set to expire in less than a month.
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