Donald Trump has threatened to impose new 100% tariffs on Chinese goods as tensions between Washington and Beijing flare again.
The US president accused China of “very hostile” actions after it expanded export controls on rare earth materials vital to American industries.
Trump said the additional tariffs could take effect on 1 November “or sooner,” warning of further countermeasures if Beijing retaliates.
“I never thought it would come to this,” he wrote on Truth Social. “Ultimately, it will be a very good thing for the U.S.A.”
The move reignites fears of a trade war between the world’s two largest economies, just months after both sides eased earlier tariff disputes.
Global markets reacted sharply: the S&P 500 dropped 2.7%, the Dow fell 1.9%, and the Nasdaq sank 3.6%, with tech giant Nvidia losing nearly 5%.
China produces more than 90% of the world’s processed rare earths, used in electric cars, wind turbines, and aircraft engines.
Beijing’s latest export restrictions add five new materials to its control list, tightening supply chains already strained earlier this year.
Trump hinted a planned meeting with Xi Jinping may now be cancelled, saying “there seems to be no reason” to meet.
His renewed tariff threat marks another escalation in a volatile US-China relationship — and a potential shock to global trade and markets.
