Washington: US President Donald Trump declared that the United States will impose an additional 100% tariff on Chinese imports. This decision marks a significant escalation in trade tensions between the two economic giants.
According to Yemen News Agency, Trump stated that the US will also restrict the export of all critical software manufactured in the country starting November 1. This announcement was made through a post on the Truth Social website. Trump specified that the new tariffs would take effect beginning November 1, 2025, or earlier if China takes further actions or implements changes.
The increased tariffs are a reaction to China's restrictions on rare earth exports. The new measures could lead to tariffs reaching as high as 157.6% in certain sectors, potentially increasing the prices of US goods and causing global economic disruptions.