Overview
- President Donald Trump announced an additional 100% tariff on Chinese imports effective November 1 and said the U.S. will impose export controls on essential software.
- China expanded export controls on rare earths and related technologies with phased rules starting November 8 and December 1, extending to magnet production, recycling and some products made abroad using Chinese-origin inputs.
- Beijing defended the measures as lawful, accused the U.S. of a double standard, said it does not fear a trade war and warned of corresponding steps.
- China will charge fees on U.S.-owned or -operated vessels docking at Chinese ports from October 14 in a reciprocal move to U.S. port charges.
- Global markets slid after the announcements, with Wall Street and European indices falling, as the planned Trump‑Xi meeting at APEC remains uncertain but still possible.