WASHINGTON—President Donald Trump on Friday said that the United States will impose an additional 100 percent tariffs on Chinese goods and export controls on critical software starting on Nov. 1.
Trump accused Beijing of adopting “aggressive” export controls on nearly all of its products, referring to the Chinese regime’s recent rule changes aimed at restricting shipments of rare earth elements.
He warned that tariffs could be implemented sooner, depending on Beijing’s reaction. He also said China’s new export controls, which would affect all countries, appeared to be a strategy devised by Beijing years ago.
“It is impossible to believe that China would have taken such an action, but they have, and the rest is History,” he wrote.
Trump’s tariff announcement followed a lengthy post from Trump, in which he accused the Chinese regime of taking a hostile and unprecedented step by sending letters to countries worldwide to announce new export controls on rare earth elements and other key materials. He vowed to respond with countermeasures, including significant tariff hikes and other actions.
In the earlier post, Trump also signaled that he would call off his planned meeting with Chinese Communist Party leader Xi Jinping. Both leaders were expected to meet during Trump’s visit to South Korea during the Asia-Pacific Economic Cooperation (APEC) summit later this month.
“I was to meet President Xi in two weeks, at APEC, in South Korea, but now there seems to be no reason to do so,” Trump said.
Trump said Beijing’s move would clog the global markets and create serious challenges for nearly every country, including China.
He added that several countries voiced anger over Beijing’s “trade hostility,” a move that also surprised the United States, given the positive trade talks over the past six months.
“I have always felt that they’ve been lying in wait, and now, as usual, I have been proven right!” Trump said.
On Oct. 9, the Chinese communist regime expanded export controls on rare earth elements, barring foreign defense and semiconductor companies from accessing these critical metals.
Rare earths, a group of 17 elements critical for products such as electric vehicles, military jets, and submarines, have become a key issue in the U.S.–China trade talks.
‘Sinister and Hostile’
Trump said China was holding the world captive by building a monopoly position over key materials like magnets and other elements, calling Beijing’s actions “sinister and hostile.”
The United States holds even stronger monopoly positions than China but has avoided using them until now, he said.
“Things that were routine are no longer routine at all. I have not spoken to President Xi because there was no reason to do so,” he said.
The timing of China’s letters was particularly inappropriate, Trump added, coming on the day peace was finally achieved in the Middle East.
“I will be forced, as President of the United States of America, to financially counter their move,” he said.
“I never thought it would come to this but perhaps, as with all things, the time has come,” Trump said. “Ultimately, though potentially painful, it will be a very good thing, in the end, for the U.S.A.”
On Oct. 9, Beijing also announced the addition of specific rare earth technologies and equipment to its export control list. Starting Nov. 8, exports of certain lithium-ion batteries, graphite cathodes, and artificial diamonds will require government approval. Additionally, five rare earth elements—holmium, erbium, thulium, europium, and ytterbium—will also be subject to licensing requirements.
