Trump threatens tech export limits, new 100% tariff on Chinese imports starting Nov 1
Summary
President Donald Trump threatened to impose a 100% tariff on Chinese imports starting November 1 due to China's new export controls on rare earth minerals, escalating tensions in US-China trade relations.
Key Points
- President Trump threatens a 100% tariff on Chinese imports starting Nov. 1 in response to China's export controls on rare earth minerals.
- China restricted exports of rare earth minerals requiring foreign companies to get special approval, targeting technologies linked to military use.
- The S&P 500 dropped 2.7% amid concerns about escalating trade tensions between the US and China.
- Experts note the possibility of de-escalation but recognize both countries are prepared to escalate economic measures.
