Trump announces 100% additional tariff on China beginning in November

Move comes after China expanded export controls on rare earth minerals

Xi Jinping, claiming Beijing was planning sweeping export controls on rare earth minerals.

“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 posted to Truth Social Friday afternoon.

STOCKS FALL AS US-CHINA TRADE WAR REIGNITES AFTER TRUMP THREATENS TARIFF HIKE

President Donald Trump pumps his fist before boarding Marine One.

President Donald Trump pumps his fist before boarding Marine One at the White House Sept. 7, 2025, in Washington, D.C. (Roberto Schmidt/Getty Images / Getty Images)

“Also on November 1st, we will impose Export Controls on any and all critical software.”

In the Truth Social post, Trump argued that China has taken an “extremely aggressive” stance on global trade.

TRUMP THREATENS ‘MASSIVE’ TARIFF INCREASE ON CHINA AMID DISPUTE OVER RARE EARTH MINERALS

“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 said.

“This affects ALL Countries, without exception, and was obviously a plan devised by them years ago. It is absolutely unheard of in International Trade, and a moral disgrace in dealing with other Nations.”

China's Xi Jinping

Chinese President Xi Jinping takes part in a welcoming ceremony upon his arrival at an airport in Moscow, Russia, May 7, 2025. (Alexander Vilf/Host agency Ria Novosti /Handout via Reuters / Reuters Photos)

The announcement came just hours after Trump warned of the possibility of fresh tariffs, claiming China had been telling other countries it wants to impose export controls on rare earth minerals, which are critical components for advanced technologies ranging from semiconductors to smartphones.

TRUMP PROPOSES LEVELING PLAYING FIELD WITH CHINA ON FLIGHTS OVER RUSSIA TO AND FROM US

“Some very strange things are happening in China!” Trump posted earlier Friday. “They are becoming very hostile, and sending letters to Countries throughout the World, that they want to impose Export Controls on each and every element of production having to do with Rare Earths, and virtually anything else they can think of, even if it’s not manufactured in China.”

Chinese flags

People wave the flag of China to celebrate China National Day Oct. 1, 2022, in Hong Kong, China.  (Keith Tsuji/Getty Images / Reuters Photos)

The escalation jolted global markets on Friday, sending the S&P 500 down more than 2%, its steepest one-day drop since April, Reuters reported.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

On Thursday, China expanded its export controls on rare earth elements. The country supplies over 90% of the world’s processed rare earths and rare earth magnets, according to Reuters.