Trump announces 100% additional tariff on China beginning in November

Core Points - The U.S. will impose a 100% tariff on imports from China starting November 1, 2025, in response to China's aggressive trade stance and planned export controls on rare earth minerals [1][2][6] - The announcement follows a warning from Trump about potential new tariffs and China's intentions to implement export controls on critical materials essential for advanced technologies [9][10] - The escalation in trade tensions has led to a significant drop in global markets, with the S&P 500 experiencing its largest one-day decline since April, falling over 2% [11] Trade Relations - Trump accused China of taking an "extremely aggressive" position in global trade, claiming they sent a hostile letter regarding their plans for export controls [5][6] - The U.S. will also impose export controls on critical software starting the same date as the tariffs [5] Rare Earth Minerals - China currently supplies over 90% of the world's processed rare earths, which are vital for technologies such as semiconductors and smartphones [12] - The potential export controls by China could significantly impact global supply chains and technology sectors [9][10]