Summary
President Donald Trump has threatened to impose a new 100% tariff on Chinese imports starting November 1, 2025. This comes in response to China's decision to restrict exports of rare earth elements, which are critical for many technologies. The U.S. stock market has reacted negatively to these escalating tensions.
Key Facts
- President Trump plans to impose a 100% tariff on Chinese imports from November 1.
- China has limited exports of rare earth elements, which are used in technologies like computer chips and jet engines.
- China’s new rules require special approval for foreign companies to ship these minerals abroad.
- The S&P 500 stock index fell by 2.7% due to concerns over U.S.-China trade tensions.
- President Trump hinted that there might still be a chance to lower the new tariff threat.
- Trump criticized China’s new export rules as "shocking" and "out of the blue".
- The U.S. may also put export controls on critical software from American companies.
- The Chinese Embassy in Washington has not commented on the situation.
