Overview

• On Friday, President Trump threatened an additional 100% tariff on Chinese imports and new limits on exports of “critical software,” targeting implementation on Nov. 1.
• China’s Commerce Ministry criticized the move as “double standards,” vowed “corresponding measures” if the U.S. proceeds, and said rare‑earth curbs are lawful with licenses available for legitimate civilian use.
• Trump on Sunday posted that the U.S. “wants to help China, not hurt it,” while Vice President J.D. Vance signaled willingness to negotiate and asserted Washington holds more leverage.
• A planned Trump–Xi encounter at APEC in South Korea remains uncertain, with both sides leaving space for talks rather than imposing immediate matching tariffs.
• Markets slid Friday on the escalation, led by tech shares, then U.S. equity futures rebounded Sunday after the softer rhetoric, as investors weighed risks to supply chains reliant on Chinese rare‑earth mining and processing dominance.