🚨 Breaking News: Trump broadcasts new 100% China tariff, threatens to scrap Xi talks
Trump Announces New 100% China Tariff, Threatens to Scrap Xi Talks
The commerce struggle between the United States and China is again on, with US President Donald Trump saying a hefty 100% tariff on Chinese items on Friday, October tenth. Trump additionally threatened to cancel his upcoming assembly with Chinese President Xi Jinping, escalating tensions over export restrictions on uncommon earth minerals.
According to Trump, the brand new tariffs, coupled with US export controls on vital software program, are set to take impact on November 1st. He cited Beijing’s “terribly aggressive” actions as the explanation for this retaliatory measure, posting on Truth Social, “It is inconceivable to imagine that China would have taken such an motion, however they’ve, and the remaining is History.”
The information despatched shockwaves via the inventory business environment, with the Nasdaq dropping 3.6% and the S&P 500 falling 2.7%. Currently, Chinese items are topic to 30% US tariffs, initially imposed by Trump over alleged unfair commerce practices and Beijing’s alleged involvement within the fentanyl commerce. In response, China has levied 10% tariffs on US items.
The President’s preliminary risk got here through a prolonged submit on Truth Social, claiming that China had despatched letters to varied international locations detailing export controls on uncommon earth minerals. These minerals are important for the manufacturing of smartphones, electrical autos, army gear, and renewable vitality applied sciences, with China dominating the multinational manufacturing and processing.
‘Very unusual issues’
“There is not any method that China must be allowed to carry the World ‘captive,'” Trump wrote, labeling China’s actions as “very hostile.”
This outburst additionally solid doubt on the deliberate assembly between Trump and Xi on the Asia-Pacific Economic Cooperation (APEC) summit, scheduled later this month. This assembly was to be the primary between the 2 leaders since Trump’s return to workplace in January.
“I used to be to fulfill President Xi in two weeks, at APEC, in South Korea, however now there appears to be no motive to take action,” he acknowledged.
While Beijing has but to reply, Trump expressed his confusion over China’s timing, stating, “Some very unusual issues are taking place in China! They have gotten very hostile.”
Later, chatting with reporters within the Oval Office, Trump clarified that the assembly had not been formally canceled. “I have never canceled, however I do not know that we will have it. But I’m going to be there regardless, so I might assume we would have it,” he mentioned.
‘Trade hostility’
According to Trump, different nations have voiced their discontent with China’s “nice Trade hostility, which got here out of nowhere.”
This sudden escalation comes simply weeks after Trump highlighted the bettering relationship between the 2 nations, significantly concerning the US operations of TikTok.
Just weeks earlier than, he emphasised the significance of assembly with Xi at APEC and even talked about plans to go to China subsequent yr. The latest tit-for-tat tariff will increase threatened to cripple commerce between the world’s two largest economies. While either side beforehand agreed to de-escalate, this truce seems to be on shaky floor.
Last week, Trump indicated he would push Xi on elevated US soybean purchases, aiming to alleviate the impression of the commerce struggle on American farmers, an important voting bloc. Earlier on Friday, China introduced “particular port charges” for US-operated and constructed ships, a retaliatory measure following Washington’s expenses on Chinese-linked vessels in April.
In a separate improvement, the US Federal Communications Commission (FCC) reported the profitable removing of “thousands and thousands” of listings for banned Chinese merchandise from on-line commerce platforms.
“The Communist Party of China is engaged in a multi-prong effort to insert insecure units into Americans’ properties and companies,” FCC Head Brendan Carr acknowledged on social media.
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📅 Published on 2025-10-10 22:39:00
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