Overview

• President Donald Trump said the additional 100% tariff and new controls on any critical software to China will take effect on November 1.
• Trump framed the move as a response to Beijing’s expanded export controls on rare-earth elements and related refining technologies tied to defense and semiconductor supply chains.
• China’s Ministry of Commerce condemned the U.S. plan and warned of corresponding measures, saying it does not seek a tariff fight but is not afraid of one.
• Markets slid after the announcement, with major U.S. indexes posting sharp losses and investors rotating into safe-haven assets.
• Analysts reported the extra duty would stack on existing U.S. tariffs of roughly 30%, pushing some import taxes on Chinese goods toward about 130%.