The presidents announcement sent shockwaves through global stock markets

President Donald Trump has announced that the US will impose a 100% tariff on Chinese goods beginning November 1, 2025, in response to what he described as Beijing's "extraordinarily aggressive" new trade restrictions.

In a post on Truth Social on Friday, Trump said China had taken "an extremely hostile position on trade" by sending a global letter declaring plans to implement "large scale export controls on virtually every product they make, and some not even made by them." The measures, according to the president, would affect all countries "without exception."

On Thursday, Beijingannouncednew restrictions on the export of certain strategic minerals that have dual-use in military applications, saying the move was intended to protect national security and meet international obligations, including those related to non-proliferation.

"Based on the fact that China has taken this unprecedented position... the United States of America will impose a Tariff of 100% on China, over and above any Tariff that they are currently paying," Trump wrote. He added that Washington would also impose export controls on "any and all critical software" starting the same day.

Trump described China's move as "absolutely unheard of in international trade" and "a moral disgrace in dealing with other nations." He said the US response would apply "only for the U.S.A., and not other nations who were similarly threatened."

The president's announcement sent shockwaves through global markets, sending US stocks sharply lower on Friday. The S&P 500 slid 2.7%, marking its biggest one-day loss since April, while the Dow Jones Industrial Average dropped nearly 900 points, or 1.9%. The tech-heavy Nasdaq plunged 3.6% as investors fled high-growth stocks seen as most exposed to Chinese supply chains.

(RT.com)