Overview

• President Donald Trump said he will impose an additional 100% tariff on Chinese imports by Nov. 1 and restrict exports of “any and all critical software,” characterizing China’s new rare‑earth export rules as hostile.
• China’s Commerce Ministry condemned the move as a “typical” case of double standards, said it does not want a tariff war but is not afraid of one, and warned of corresponding measures if Washington proceeds.
• Beijing defended its expanded rare‑earth controls—which require licenses even for products with trace China‑origin inputs—as lawful national‑security policy, while signaling export licenses would be granted for legitimate civilian uses.
• U.S. markets slid after Trump’s announcement, with major indexes falling and tech shares hit hardest, as shippers and manufacturers warned of higher costs, rerouting, and potential delays in electronics and auto supply chains.
• The threatened tariff and software curbs raise uncertainty over a planned Trump–Xi meeting at the APEC summit, though both sides have left room for negotiation and China has not announced immediate new tariffs.