Overview

• The White House announced an additional 100% tariff on Chinese imports effective Nov. 1, on top of existing duties, alongside new export controls on critical software destined for China.
• China’s Commerce Ministry said its rare‑earth measures constitute tighter licensing and oversight rather than a ban and vowed resolute countermeasures if the U.S. follows through.
• The new Chinese rules expand the list of restricted minerals and control production technologies and overseas use, raising risk to technology and defense supply chains.
• Port measures are set to escalate, with U.S. surcharges on Chinese‑linked ships taking effect Oct. 14 and China declaring reciprocal special port fees on U.S. vessels.
• Prospects for a Trump–Xi meeting at the APEC summit remain uncertain after conflicting statements, as contacts were postponed and markets fell sharply (Nasdaq −3.56%, S&P 500 −2.71%).