The U.S. will impose 100% tariffs on goods from China in addition to those currently in effect. This was stated by Donald Trump on the social network Truth Social. Export controls will also be implemented on critical software.
According to him, this will happen on November 1 or earlier "depending on any further actions or changes taken by China."
Here is Trump's statement in full:
"It has just been revealed that China has taken an extremely aggressive stance regarding trade, sending the world a highly hostile letter stating that starting November 1, 2025, it will impose extensive export controls on virtually all of its products, as well as on some products not even produced by them. This affects ALL countries without exception and is clearly a plan they developed many years ago. This is absolutely unprecedented in international trade and is a moral disgrace in relations with other countries.
Given that China has taken this unprecedented position, and speaking only on behalf of the United States, not other countries that have also been threatened, starting November 1, 2025 (or earlier, depending on any further actions or changes taken by China), the United States of America will impose a 100% tariff on China, in addition to any tariffs they are currently paying. Also, on November 1, we will impose export controls on any and all critical software.
It is hard to believe that China would take such actions, but they have, and the rest is history," Trump wrote.
Reaction
Trump's sharp statement about China shocked the markets, hitting stocks, the dollar, oil, and cryptocurrencies, Bloomberg reports.
President Donald Trump's threat of a "massive increase" in tariffs on Chinese goods rattled Wall Street at the end of an already unstable week, as concerns grew about a bubble in the artificial intelligence market.
His remarks led to a 2.7% drop in the S&P 500 index. The tech-heavy Nasdaq 100 lost 3.5%. The dollar also fell. Oil prices dropped by more than 4%. Most cryptocurrencies fell by 1-7%.
Scale of the Problem
In 2024, the total volume of trade in goods between the U.S. and China was approximately $582.4 billion.
Of this amount: U.S. exports to China were about $143.5 billion, and U.S. imports from China were about $438.7 billion. This is the amount Trump intends to impose a 100% tariff on.
In the first half of 2025, the total trade volume between China and the U.S. was estimated at $289.3 billion, which is a 10% decrease compared to the same period last year.
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