Overview

• President Trump cast doubt on a planned APEC meeting with Xi Jinping after initially saying he would not meet, leaving the encounter uncertain.
• Beijing's tightened regime added five rare-earth elements, heightened scrutiny for semiconductor users, and dozens of refining technology items to export controls.
• Wall Street slumped as the Nasdaq fell 3.56%, the S&P 500 dropped 2.71% and the Dow declined 1.88%, while gold surged above $4,000, the dollar weakened and oil hit five‑month lows.
• Reporting indicates the 100‑percentage‑point surcharge would lift average duties on Chinese goods toward roughly 130% when added to existing tariffs.
• China also announced "special port tariffs" on ships operated or built by the United States, signaling reciprocal steps in the dispute.