Overview

• China’s Ministry of Commerce introduced immediate export controls on technologies used to extract and produce rare earths.
• President Donald Trump said on Truth Social that China had become “very hostile,” threatened a massive tariff increase, and indicated he may cancel a planned APEC meeting with Xi Jinping.
• Several outlets, including Le Figaro and CNBC as cited by Courrier International, reported Trump announced additional 100% tariffs by November 1 and new export limits on strategic software, though these reports go beyond his publicly posted threat.
• U.S. stocks fell sharply on the remarks, with the Dow down 1.90%, the S&P 500 off 2.71%, and the Nasdaq lower by 3.56%, as Chinese tech listings slumped and U.S. rare‑earth miners advanced.
• China signaled retaliation by announcing special duties on U.S. ships in its ports, escalating tensions that put a temporary tariff truce due to run until November 10 at risk.