Business

Trump escalates trade conflict: U.S. to impose 100% tariffs on China from November



In a new escalation of the U.S.–China trade war, President Donald Trump announced Friday that his administration will impose a 100 per cent tariff on goods imported from China, in response to Beijing’s recently expanded export controls on critical rare-earth metals.

The announcement, delivered via a Truth Social post, stated the additional tariffs would take effect on November 1 or possibly sooner, “depending on any further actions or changes taken by China.” This hike would come on top of the existing 30 per cent tariffs already in place.

Trump called China’s new export restrictions “extraordinarily aggressive” and “extremely hostile,” saying, “It is absolutely unheard of in international trade, and a moral disgrace in dealing with other nations.”

He also warned that the U.S. will impose export controls on all critical software, further tightening restrictions on technology flows.

China, via its Ministry of Commerce, defended its move, asserting the export controls were necessary to safeguard national security and strategic interests.

The decision marks a sharp turn in trade diplomacy, and it raises questions about the broader implications for global supply chains, technology markets, and the planned meeting between Trump and Chinese President Xi Jinping.

Tolulope is a dynamic media professional with a knack for impactful storytelling and digital content curation. Skilled in journalism, news editing, and corporate communications, she leads with creativity and precision.

She holds both her first and second degrees in Mass Communication from the University of Lagos and is currently the Deputy Online Editor at BusinessDay.



Source link

Spread the love

Leave a Reply

Your email address will not be published. Required fields are marked *