WASHINGTON — U.S. President Donald Trump said Friday he will impose an additional 100% tariff on imports from China starting next month.
In a post on his Truth Social platform, Trump also announced plans to introduce export controls on key software, calling China’s latest actions “hostile” and accusing Beijing of trying to hold the world “captive.”
“One of the policies that we are calculating at this moment is a massive increase of tariffs on Chinese products coming into the United States of America,” Trump wrote, adding that “many other countermeasures are under serious consideration.”
Earlier this week, China imposed new export restrictions on rare earth elements, metals essential for manufacturing semiconductors, electric vehicles, and defense technologies.
Trump responded by warning he might cancel his planned meeting with Chinese President Xi Jinping during his upcoming trip to South Korea, though he later said he had not officially done so.
“I was to meet President Xi in two weeks, at APEC, in South Korea, but now there seems to be no reason to do so,” Trump said online, later telling reporters at the White House, “I’m going to be there regardless.”
Financial markets reacted sharply to the announcement, with the S&P 500 closing down 2.7%, marking its steepest one-day decline since April.
Beijing’s rare earth restrictions — which require foreign companies to obtain new export licenses and prohibit sales to military-linked entities — sparked alarm in Washington.
China dominates global production of rare earths, which are indispensable to the U.S. defense and technology sectors.
Trump said the move was “especially inappropriate” amid his administration’s success in brokering a ceasefire between Israel and Hamas, suggesting Beijing’s timing was intended to “steal the spotlight.”
China’s Ministry of Commerce also launched a monopoly investigation into U.S. chipmaker Qualcomm, potentially complicating its pending acquisition of another semiconductor firm.
Trade analysts said the back-and-forth underscores how fragile the U.S.-China détente has become since both sides agreed in May to ease triple-digit tariffs that had nearly halted trade.
Currently, U.S. goods face a 10% Chinese tariff, while Chinese products entering the U.S. are already subject to an added 30% levy, now set to climb dramatically under Trump’s latest announcement.
Beijing has also unveiled new port fees targeting ships with U.S. ties, deepening the standoff.
“Some very strange things are happening in China,” Trump wrote. “They are becoming very hostile.”
Experts say Xi’s moves may be an attempt to gain leverage ahead of upcoming trade talks.
While a Trump–Xi meeting now appears unlikely, experts say negotiations remain possible before China’s new rules take effect in December. — Agencies
