President Trump ratcheted up tariff and trade tensions with China on Friday. In a post on Truth Social, the president said the US would impose an additional 100% tariff on Chinese goods starting on Nov. 1, 2025.
The president said the move was prompted by China taking an "extraordinarily aggressive" position on trade by announcing new export controls that would take effect next month. Trump claimed the curbs affect more countries than just the US, calling them a "moral disgrace in dealing with other nations."
The president added that the timeline of the 100% tariff could be moved up based on China's response. He also said export controls targeting China's access to "critical software" would go into effect on the same day in November.
Earlier Friday, Trump had threatened a "massive increase" in duties on Chinese goods and suggesting he would scrap a planned meeting later this month with Chinese leader Xi Jinping.
Trump accused China of becoming "very hostile," pointing to curbs it took this week on exports of rare earth minerals. As part of the trade dispute, China also slapped new port fees on US ships and launched an antitrust investigation into US-based Qualcomm (QCOM). Beijing has also halted purchases of US soybeans, scrambling business plans for US farmers.
US stocks slid on Friday after Trump threatened the tariff increase.
US tariffs on China of nearly 145% in some cases are on hold until Nov. 10 while the two countries made progress on a larger trade deal. Chinese tariffs on US goods ballooned to 125% before the pause.
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