U.S. President Donald Trump reignited a full-scale trade war with China on Friday after announcing he would impose 100% tariffs on Chinese goods, in addition to the 30% already in place.
In a lengthy post on Truth Social, Trump claimed Beijing had taken “an extraordinarily aggressive position on trade” by sending what he called a “hostile letter to the world,” announcing sweeping export controls. According to Trump, China’s new restrictions—set to take effect November 1, 2025—will apply to “virtually every product they make, and some not even made by them,” affecting all countries without exception.
“Based on China’s unprecedented position, and speaking only for the U.S.A., starting November 1st, 2025—or sooner depending on China’s actions—the United States will impose a tariff of 100% on China, over and above any current tariffs,” Trump wrote. “We will also impose export controls on any and all critical software. It is impossible to believe that China would take such an action, but they have, and the rest is history.”
Earlier in the day, Trump had threatened new measures against China after Beijing announced new port fees on U.S. ships, retaliating against similar U.S. fees imposed earlier. Later, Trump confirmed he would cancel a planned meeting with Chinese President Xi Jinping in South Korea at the end of the month, underscoring how far diplomacy has deteriorated between Washington and Beijing.
The announcement came after China’s Ministry of Commerce unveiled new export controls on rare earth minerals—vital to U.S. defense and technology industries. The new rules require exporters to provide detailed end-use information for shipments, with particular scrutiny on semiconductors, high-tech manufacturing, and defense-related applications.
Trump’s move triggered a sharp market reaction. The Dow Jones Industrial Average fell more than 900 points, while the S&P 500 lost over 500 points. Analysts suggested the timing of Trump’s post—just before markets closed on Friday—was deliberate, giving traders the weekend to digest the news before markets reopen on Monday.