Trump warns of imposing additional 100 percent tariffs on China

"It has just been learned that China has taken an extraordinarily aggressive position on Trade in sending an extremely hostile letter to the World, stating that they were going to, effective November 1st, 2025, impose large scale Export Controls on virtually every product they make, and some not even made by them," Trump wrote on Truth Social.

"This affects ALL Countries, without exception, and was obviously a plan devised by them years ago. It is absolutely unheard of in International Trade, and a moral disgrace in dealing with other Nations," the post said.

The US President further said: "Based on the fact that China has taken this unprecedented position, and speaking only for the U.S.A., and not other Nations who were similarly threatened, starting November 1st, 2025 (or sooner, depending on any further actions or changes taken by China), the United States of America will impose a Tariff of 100% on China, over and above any Tariff that they are currently paying."

Trump said the US will impose export controls on all critical software.

He further said: "It is impossible to believe that China would have taken such an action, but they have, and the rest is History. Thank you for your attention to this matter!"

Trump, in his earlier post on the same day, criticised China for tightening its rules for exports of rare earths.

"Some very strange things are happening in China! They are becoming very hostile, and sending letters to Countries throughout the World, that they want to impose Export Controls on each and every element of production having to do with Rare Earths, and virtually anything else they can think of, even if it’s not manufactured in China," he had said.

He even threatened to pull out of his upcoming meeting with Chinese counterpart Xi Jinping.

He further said: "Things that were routine are no longer routine at all. I have not spoken to President Xi because there was no reason to do so. This was a real surprise, not only to me, but to all the Leaders of the Free World. 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."

Financial markets dropped in the wake of Trump's remarks, with the S&P 500 closing down 2.7%, its steepest fall since April, reported BBC.