President Donald Trump has announced plans to impose a 100% tariff on all goods imported from China, marking a major escalation in trade tensions between Washington and Beijing.
Trump made the announcement in a Truth Social post on Friday afternoon, stating that the new tariff will take effect on November 1 or sooner, in addition to the 30% tariffs already in place.
“The United States of America will impose a Tariff of 100% on China, over and above any Tariff that they are currently paying,” Trump wrote. “Also on November 1st, we will impose Export Controls on any and all critical software.”
The new tariffs target key Chinese exports, including electronics, apparel, and furniture, which make up a large share of U.S. imports.
Trump’s move comes in response to Beijing’s tightened export controls on rare earth materials, which are vital for the production of electronics and advanced technologies.
As a result, the President reportedly called off a scheduled meeting with Chinese President Xi Jinping later this month in South Korea.
Markets reacted sharply to the news, with investors expressing fears of a renewed trade war reminiscent of earlier tariff hikes that once reached 145% on Chinese goods.
Economists warn that the decision could increase costs for U.S. consumers, disrupt global supply chains, and further strain relations between the world’s two largest economies.
