Trump Says U.S. Will Impose 100% Tariffs Against China Following Mineral Trade Dispute

10 Oct 2025 by Antonio Pequeño IV · Forbes

Topline

The U.S. will levy 100% tariffs against China beginning next month, President Donald Trump said Friday, announcing the duties after Beijing clamped down on export controls for rare earth materials this week.

Key Facts

Trump announced the tariffs in a Truth Social post, saying they would start “November 1st, 2025 (or sooner, depending on any further actions or changes taken by China).”

The tariffs will stack “over and above” other tariffs China is already paying, according to Trump, who added export controls will be placed on “any and all critical software” on Nov. 1.

The new tariffs come after China announced a requirement for foreign companies to receive approval from the Chinese government to export products with rare earth minerals, as well as explain their intended use.

Trump alleged earlier Friday that China was trying to “clog” markets, later saying China’s export crackdown “is absolutely unheard of in International Trade, and a moral disgrace in dealing with other Nations.”

Trump alleged earlier Friday that China was trying to “clog” markets, later saying on Truth Social that the export crackdown “is absolutely unheard of in International Trade, and a moral disgrace in dealing with other Nations.”

What Tariffs Are Already In Effect Against China?

The U.S. already has 30% tariffs placed against China, down from the 145% rate it considered before the two countries reached a trade truce in May.

Tangent

The stock market experienced its worst day since April on Friday, with the S&P 500 sinking 2.7%, the Dow Jones Industrial Average falling 1.9% and the Nasdaq Composite dropping 3.5%. Friday’s market selloff was triggered by Trump’s tariff threats earlier Friday, not his announcement of tariffs, which happened nearly an hour after market close.

Key Background

China has the world’s largest rare earth mineral reserves, accounting for a whopping 70% of rare earths. The Trump administration has tried to lessen reliance on Beijing’s control of the market, announcing in July the Defense Department would become the largest shareholder in MP Materials, a company that owns the only rare earth mine in the U.S. China and the U.S. reached a trade truce in May that was extended by another 90 days in August, though this week’s trade developments threaten the agreement. Trump is scheduled to meet with Chinese President Xi Jinping for talks later this month in South Korea.