Donald Trump announced an additional 100% tariff on Chinese products and new controls on software exports. The measure came after his threat to cancel a meeting with Xi Jinping.
The president of the United States, Donald Trump, announced this Friday the application of an additional 100% tariff on Chinese imports and the implementation of controls on software export coming from Beijing, measures that will come into force on November 1. The announcement came a few hours after the president warned that he could suspend his next meeting with the Chinese leader, Xi Jinping.
Through his Truth Social account, Trump noted that China decided to “impose large-scale export controls” on numerous products, which he described as “a shame.” According to the president, Beijing’s decision constitutes an “extremely aggressive” commercial stance.
The Republican had already threatened to a “massive” increase in tariffs on Chinese goods in response to the recent limits that China imposed on the export of rare earthessential materials for technological and manufacturing production. According to Trump, the Chinese government would be notifying different countries about the affected elements, which, in his opinion, would generate a strong distortion in international markets.
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The US president indicated that the decision will come into effect “as of November 1, 2025 (or earlier, depending on any other action or change taken by China)” and that, in addition, Export controls will be imposed on “all critical software.”
Washington’s hardening stance had Immediate repercussions on financial marketswith a drop in Treasury bond yields, a rise in the price of gold and a weakening of the dollar against other currencies.
For its part, the measure adopted by China on Thursday included new restrictions on rare earthsby incorporating five additional elements and expanding control over users of semiconductors and refining technologies. Beijing concentrates more than 90% of the world’s production and processing of these materials, key to the global military and technological industry.
Trump cancels meeting with Xi Jinping
Trump confirmed that will not hold the meeting with Xi Jinping scheduled for late October during the Asia-Pacific Economic Cooperation (APEC) summit. According to the president, “there is no longer a reason to do so” after the latest measures adopted by Beijing.
The decision represents the biggest diplomatic breakup in months between Washington and Beijing and revives doubts about the possibility of maintaining a process of economic detente between the two main world powers.
Source: Ambito
