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President Donald Trump said Friday he will impose 100% tariffs on imports from China starting Nov. 1, citing China’s “extraordinarily aggressive” export-control stance and a letter he said set large-scale controls for Nov. 1, 2025. He also vowed U.S. export limits on “any and all critical software,” and said the new levies would be “over and above” the current 30% rate. Stocks slid after his threat: the Dow fell 385 points, the S&P 500 1.25%, and the Nasdaq 1.75%. The announcement followed Beijing’s new rare-earth restrictions, and Trump cast doubt on a planned APEC meeting with Xi.

Prepared by Christopher Adams and reviewed by editorial team.