Trump says weighing huge improve in tariffs on Chinese imports, no purpose to fulfill with President Xi

President Donald Trump mentioned on Friday (October 10, 2025) that he’s putting an extra 100% tax on Chinese imports beginning on Nov. 1 or sooner, probably escalating tariff charges near ranges that in April fanned fears of a steep recession and monetary market chaos.

The President mentioned on his social media website that he’s imposing these new tariffs due to export controls positioned on uncommon earth parts by China. The new tariffs constructed on an earlier submit Friday on Truth Social by which Mr. Trump mentioned that “there appears to be no purpose” to fulfill with Chinese chief Xi Jinping as a part of an upcoming journey to South Korea.

Mr. Trump mentioned that “beginning November 1st, 2025 (or sooner, relying on any additional actions or adjustments taken by China), the United States of America will impose a Tariff of 100% on China, over and above any Tariff that they’re at the moment paying.”

The announcement after monetary markets closed on Friday risked throwing the worldwide economic system into turmoil. Not solely would the worldwide commerce battle instigated by Mr. Trump be rekindled at harmful ranges, however import taxes being heaped on high of the 30% already being levied on Chinese items may, by the administration’s previous statements, trigger commerce to interrupt down between the U.S. and China.

While Mr. Trump’s wording was definitive, he’s additionally famously recognized for backing down from threats, such that some traders started partaking in what The Financial Times referred to as the “TACO” commerce, which stands for “Trump Always Chickens Out.” The prospect of tariffs this huge may compound the president’s personal political worries contained in the U.S., probably pushing up inflation at a second when the job market seems fragile and the drags from a authorities shutdown are beginning to compound into layoffs of federal staff.

The President additionally mentioned that the U.S. authorities would reply to China by placing its personal export controls “on any and all important software program” from American corporations.

Mr. Trump didn’t formally cancel the assembly with Mr. Xi, a lot as indicating that it may not occur as a part of a visit on the finish of the month in Asia. The journey was scheduled to incorporate a cease in Malaysia, which is internet hosting the Association of Southeast Asian Nations summit; a cease in Japan; and a go to to South Korea, the place he was slated to fulfill with Mr. Xi forward of the Asia-Pacific Economic Cooperation summit.

“I used to be to fulfill President Xi in two weeks, at APEC, in South Korea, however now there appears to be no purpose to take action,” Mr. Trump posted.