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President Donald Trump said the U.S. will impose an additional 100% tariff on Chinese imports starting Nov. 1, alongside export controls on “critical software.” The announcement came after China introduced licensing requirements for rare earth–linked exports, and as Trump threatened to cancel a meeting with Xi Jinping at the APEC summit in South Korea. China supplies about 70% of rare earths. Current effective U.S. tariffs on Chinese goods average 40%, according to Wells Fargo and the New York Fed. In a social media post, Trump also referenced Nov. 1, 2025 for broader measures.

Prepared by Lauren Mitchell and reviewed by editorial team.