Trump Plans to Impose 100% Tariff on Imports from China

U.S. President Donald Trump has sharply reacted to China’s decision to implement extensive export controls, which encompass not only rare earth minerals but also a wide range of other goods.

This is reported by AgroReview

U.S. Response to China’s Trade Restrictions

Trump described Beijing’s actions as “unprecedented and shameful,” emphasizing that China “is behaving extremely hostile and trying to hold the world hostage.” The American leader noted that the planned meeting with Chinese President Xi Jinping in the fall “no longer makes sense.”

U.S. President Donald Trump angrily responded to China’s implementation of extensive export controls, which primarily concern rare earth minerals but also extend to many other goods.

Trump stated that starting November 1, the United States may impose an additional 100% tariff on imports from China, which will be applied on top of the existing tariffs. Additionally, there are plans to enforce export controls on all key software.

Implications for Global Markets and the Agricultural Sector

The announcement of new restrictions caused a sharp decline in U.S. financial markets, which lost nearly 3% — marking the largest drop since April. The cryptocurrency market reacted particularly sharply, with prices plummeting in some cases by tens of percent.

Experts believe that the introduction of new tariffs is unlikely to improve the positions of American exporters. This is especially true for soybean producers, as China, which was previously the main buyer of American products, is likely to continue diversifying its imports by increasing purchases from Brazil and Argentina. This could complicate the sale of the new harvest for the U.S. in the international market.