Overview

• President Donald Trump announced additional 100% tariffs on Chinese goods effective November 1 and said the U.S. will impose export controls on essential software.
• China issued its first formal response, accusing Washington of a double standard and calling the rare‑earth rules a lawful licensing regime rather than an export ban.
• Beijing expanded export controls to five more rare‑earth elements from November 8 and signaled December 1 restrictions on products containing Chinese‑origin technologies, including items tied to advanced chips and semiconductor equipment.
• China will begin charging port fees on U.S.-owned vessels docking at Chinese ports starting October 14, applying the charges to ships with at least 25% U.S. ownership.
• Global markets sold off after the announcements, with major U.S. indices sliding and the European Commission urging China to ensure stable access to critical raw materials.