Overview

• The tariff takes effect on November 1 and lifts overall duties on Chinese imports to roughly 130%, according to the White House.
• The U.S. will also impose export controls on undefined “critical software” starting November 1, with the scope not yet specified.
• China on October 9 expanded export licensing to any product containing more than 0.1% China‑origin rare earths or using Chinese processing technology, covering materials such as samarium, terbium and dysprosium.
• Stocks fell after the announcements, and the planned Trump–Xi meeting in South Korea is uncertain.
• Indian exporters report immediate interest from U.S. buyers and see opportunity as analysts warn of higher global prices for EVs, wind turbines and semiconductor parts.