New Tariff Announcement
President of the United States Donald Trump announced a fresh round of tariffs on Chinese imports. The new policy includes imposing a 100% tariff on imports from China effective from November 1. The U.S. already imposes a 30% tariff on most Chinese products.
Reason Behind the Decision
Trump wrote on Truth Social that China has been going aggressively in trade. The new tariffs, he said, would be effective on all Chinese-imported goods. This move could impact other nations as well, according to him. The ultimate effective date could hinge on what happens from China in the next few weeks.
Fears Over China's Trade Restrictions
Trump explained that the move was prompted by indications that China intends to impose robust export limits on American-made goods. The limits, it is claimed, will also ban the sharing of vital software and other technologies with nations abroad.
China's Rare Earth Export Restrictions
China has recently put curbs on exporting rare earth minerals to America. To this, Trump responded by threatening that he would raise tariffs and even call off a scheduled meeting with Chinese President Xi Jinping. The announcement on tariffs came shortly after the threat.
Ongoing U.S.–China Trade Tensions
China and the U.S. have been engaged in a trade war for years. Both nations have had discussions before to de-escalate tensions and establish an equal trade agreement. Despite negotiations, a deal was never enacted. The most recent announcement of tariffs is another escalation of this long trade war.
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