Overview

• Washington announced an additional 100% duty on Chinese imports to take effect by November 1 and threatened new restrictions on exports of critical software.
• Beijing expanded export controls on rare earths and related technologies, describing them as legitimate security measures that permit civilian licenses but restrict military uses.
• China accused the U.S. of double standards, warned of countermeasures, and introduced port fees for vessels with U.S. links in a reciprocal step.
• Trump later adopted a conciliatory message on Truth Social and said a planned meeting with Xi at the APEC summit might proceed, though it has not been confirmed.
• Markets fell on the renewed tensions as industries dependent on China’s processing capacity faced heightened uncertainty over supplies.