Overview

• President Donald Trump announced an additional 100% tariff on Chinese imports to take effect by November 1 and signaled new limits on exports of critical software.
• China’s Commerce Ministry said the expanded controls on rare-earth-related technologies took immediate effect, stressing the rules are not a ban and civilian-use applications will be approved.
• Beijing accused Washington of double standards and said it does not seek a trade war but will not fear one, warning it will act to defend its interests if the U.S. proceeds.
• Trump threatened to cancel a planned meeting with Xi Jinping, and China’s Transport Ministry imposed new fees on U.S. ships calling at Chinese ports starting Tuesday in a reciprocal move.
• Rare earths underpin key industries from electric motors and semiconductors to defense systems, and China’s dominant role in production and processing heightens supply-chain risks.