Trump Announces New 100% Tariffs and Export Controls Against China
U.S. President Donald Trump announced new 100% tariffs and export controls against China late Friday in response to a fast-moving trade dispute over the Asian nation's sale of rare-earth metals and magnets to America and other countries.
"It has just been learned that China has taken an extraordinarily aggressive position on Trade in sending an extremely hostile letter to the World, stating that they were going to, effective November 1st, 2025, impose large scale Export Controls on virtually every product they make, and some not even made by them," Trump wrote on Truth Social shortly after U.S. markets closed for the day.
"This affects ALL Countries, without exception, and was obviously a plan devised by them years ago," he claimed. "It is absolutely unheard of in International Trade, and a moral disgrace in dealing with other Nations.
"Based on the fact that China has taken this unprecedented position, and speaking only for the U.S.A., and not other Nations who were similarly threatened, starting November 1st, 2025 (or sooner, depending on any further actions or changes taken by China), the United States of America will impose a Tariff of 100% on China, over and above any Tariff that they are currently paying," Trump wrote. "Also on November 1st, we will impose Export Controls on any and all critical software."
Trump's announcement came shortly after the $Dow Jones Industrial Average (.DJI.US)$, $S&P 500 Index (.SPX.US)$ and $Nasdaq Composite Index (.IXIC.US)$ all fell some 2% or more earlier Friday following previous unfriendly social-media posts from the president about new Chinese export controls on the sale of rare-earth metals and magnets.
Beijing controls a large part of the key industrial ingredients' global supply, and Trump appeared to call off a planned upcoming meeting with Chinese President Xi Jinping over the new export rules.
The dispute also sent the $CBOE Volatility S&P 500 Index (.VIX.US)$, $Gold Futures (DEC5) (GCmain.US)$ and $Silver Futures (DEC5) (SImain.US)$ all rising during Friday's regular session, while driving $Bitcoin (BTC.CC)$, $Ethereum (ETH.CC)$ and other cryptocurrencies lower.
However, North American rare-earth companies like $MP Materials (MP.US)$ and $USA Rare Earth (USAR.US)$ rose sharply on Thursday and Friday as the trade tiff unfolded. The two stocks then gained even more ground in Friday's after-hours session following Trump's tariff announcement.
Conversely, $NVIDIA (NVDA.US)$ – which has faced on-again/off-again U.S. limits on its sales of certain high-end chips to China – fell 2% to $179.47 as of 5:30 p.m. ET Friday amid Trump's threat of new export controls on U.S. tech.
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Jerry Kronenberg
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Former top editor at Seeking Alpha, Fidelity.com, TheStreet.com and UPI.
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Tiggerpepper : u charging that much
74869872 : So we the consumer are to pay 100% more? FDT
6Ring King 74869872 : no
71595250 : Great time to buy stocks! everything is on sale!
GI Junior : What ever happened to 90 deals in 90 days![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
webguybob : Next week is going to be horrible! I hope everyone has cash to buy the dip.
151664368 : hands off china the only country and leadership that will stand up and not tolerate islam.
WenZhang114 105433263 : Speaking of the 'Axis of Evil,' is this the intellectual level of American 'rednecks'?
Nickinvestor2 GI Junior :
74799486 105433263 : You are correct, and there are also American chips and computers.
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