Trump hits Beijing with additional 100% tariffs in new rift

STORY: :: FilePresident Donald Trump said on Friday that the U.S. will add an additional 100% tariff on imports from China and impose export controls on all critical U.S.-made software from November 1.:: October 10, 2025The announcement followed an earlier Truth Social post in which he signaled a (quote) "massive" tariff increase on Chinese goods and also threatened to cancel a meeting with President Xi Jinping, after Beijing tightened its rare earth restrictions.:: October 9, 2025In the post, he complained about what he characterized as China's plans to hold the global economy hostage as China dramatically expanded its rare earth element export controls on Thursday.China dominates the market for rare earths, which are essential to tech manufacturing.Trump's remarks sent markets and relations between the world's two largest economies into a spiral.The benchmark S&P 500 Index plummeted Friday and the tech-heavy Nasdaq ended more than three and a half percent lower.:: FileTrump was due to meet Xi in about three weeks in South Korea but said there was no longer any reason to hold the meeting.Beijing had never confirmed the meeting between the leaders.The White House and the Chinese embassy in Washington did not immediately respond to a request for comment.

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