Overview
- Trump said Chinese goods already face roughly 55% U.S. duties and warned the rate could climb to as high as 155% without a trade deal by Nov. 1.
- He separately announced an additional 100% tariff on top of existing duties and new export controls on critical software beginning Nov. 1.
- The escalation follows China’s tightened export restrictions on rare earth materials that are vital for high‑tech and defense manufacturing.
- Trump said he expects to meet Xi during the APEC gathering in South Korea, with U.S. Treasury Secretary Scott Bessent and China’s Vice‑Premier He Lifeng preparing talks in Malaysia.
- At the White House with Australia’s Anthony Albanese, the U.S. highlighted an $8.5 billion critical‑minerals and defense cooperation pipeline to bolster supply‑chain resilience.