WASHINGTON: The US of America will slap an extra 100 per cent tariff on imports from China and impose export controls on all essential US-made software program from November 1, President Donald Trump mentioned on Friday (Oct 10).
In a publish on Fact Social, Trump mentioned: “Beginning November 1st, 2025 (or sooner, relying on any additional actions or adjustments taken by China), the US of America will impose a Tariff of 100 per cent on China, over and above any Tariff that they’re at present paying.”
Trump mentioned the additional levies, plus US export controls on “any and all essential software program,” would come into impact from November 1 in retaliation for what he known as Beijing’s “terribly aggressive” strikes.
“It’s unimaginable to consider that China would have taken such an motion, however they’ve, and the remaining is Historical past,” he mentioned on Fact Social.
Inventory markets fell because the simmering commerce warfare between the US and China reignited, with the NASDAQ down 3.6 per cent and the S&P 500 down 2.7 per cent.
Chinese language items at present face US tariffs of 30 per cent beneath tariffs that Trump introduced in whereas accusing Beijing of aiding within the fentanyl commerce, and over alleged unfair practices.
China’s retaliatory tariffs are at present at 10 per cent.
Trump had threatened the tariffs hours earlier in a prolonged shock publish on his Fact Social community that mentioned China had despatched letters to international locations all over the world detailing export controls on uncommon earth minerals.
