Trump to impose 100% tariff on China starting November 1
Investing.com -- President Donald Trump announced after the close of trading Friday that the United States will impose an additional 100% tariff on Chinese imports starting November 1, 2025, in response to what he described as China’s "extraordinarily aggressive position on Trade."
In a statement posted on Truth Social, Trump said China had sent an "extremely hostile letter to the World" indicating plans to implement "large scale Export Controls on virtually every product they make" affecting all countries without exception.
The announcement from Trump follows an earlier statement from the president on China about the country’s aggressive behaviour. The earlier statement caused markets to sell off on Friday, with the Dow finishing down 1.9%, the S&P 500 falling 2.7%, and the tech-heavy NASDAQ dropping 3.6%. Losses continued after-hours in futures markets following the additional tarrif announcement.
Trump characterized China’s planned export controls as "absolutely unheard of in International Trade, and a moral disgrace in dealing with other Nations."
The president stated that in addition to the 100% tariff, which would be applied on top of existing tariffs, the U.S. would also impose export controls on "any and all critical software" beginning November 1.
Trump suggested the implementation date could be moved earlier "depending on any further actions or changes taken by China."
The president claimed China’s export control plan was "obviously a plan devised by them years ago" and expressed disbelief at China’s actions, concluding "the rest is History."