itstargetnews
Former Deputy Secretary of the International United States Treasury Markets Mitchell Silk joins “Varney & Co.” In order to discuss China’s failed economy, high -participation trade conversations and how U.S. leverage could change the balance of power.
President Donald Trump Social truth Friday to announce that the United States will impose an additional 100% rate on China imports from November.
The announcement was made hours after a separate charge from Trump, which warned of possible new rates and suggested to cancel a meeting with Chinese President Xi Jinping, claiming that Beijing was planning export controls in rare earth minerals.
“From November 1, 2025 (or rather, depending on any other actions or changes made by China), the United States of America It will impose a 100% rate on China, above any rate they currently pay, “Trump published on social truth on Friday afternoon.
Actions fall when American-American-Chinese War Reignings after Trump threaten the fare rise
President Donald Trump pumps his fist before climbing to Marine One in the White House on September 7, 2025 in Washington, DC (Roberto Schmidt / Getty Images / Getty Images)
“Also on November 1, we will impose export controls on any critical software.”
In the social place of truth, Trump argued that China has taken An “extremely aggressive” position about world trade.
Trump threatens the “massive” tariff in China in the midst of rare earth minerals
“It has just known that China has taken an extraordinarily aggressive position in trade in sending an extremely hostile letter to the world, saying that they were going, from November 1, 2025, imposing large -scale export controls on almost all the products they do and some did not even do,” said Trump.
“This affects All countriesWithout exception, and it was obviously a plan devised by them years ago. It is absolutely unheard of in international trade and a moral riot in dealing with other nations. “
Chinese President Xi Jinping participates in a welcoming ceremony on arrival at a Moscow airport, Russia, on May 7, 2025. (Alexander Vilf /Host Agency RIA NOVOSTI /SHEET THROUGH RETERS /FTERS PHOTOS)
The announcement came a few hours after Trump warned of the possibility of fresh rates, saying that China had told other countries that it wants to impose export controls on rare earth minerals, which are critical components for advanced technologies that go of semiconductors to smartphones.
Trump proposes to level the pitch with China on flights over Russia towards us
“Some very strange things are happening in China!” Trump published on Friday at the beginning. “They are very hostile and send letters to countries around the world, which want to impose export controls on all the elements of production that have to do with the rare lands and practically anything they may think, even if they are not manufactured in China.”
People make China’s flag to celebrate China National Day on October 1, 2022 in Hong Kong, China. (Keith Tsuji / Getty Images / Reuters photos)
The climb reached the world markets on Friday, sending the S&P 500 more than 2%, its strongest fall of one day since April, reported Reuters.
Get Fox Business during clicking here
On Thursday, China expanded its export controls in rare earth elements. The country supplies more than 90% of the rare lands of the world and the magnets of the rare earth, according to Reuters.
Eric Revell, Eric Revell, contributed to this report.
