**Trump Announces 100% Tariffs on Chinese Imports Starting November 1**

Trade tensions between the U.S. and China are heating up again. On Friday, former President Donald Trump announced that the United States will begin imposing 100% tariffs on all goods imported from China starting November 1. These new tariffs come in addition to the existing ones already in place.

**Major Shift in Trade Policy**

Along with the new tariffs, Trump also revealed that the U.S. will introduce strict new rules on the export of critical software technologies. These export restrictions will apply globally and are meant to protect American tech from falling into the hands of rival nations.

Trump explained that this move comes as a direct response to China’s latest trade actions. According to him, China has informed other countries of its intention to place massive export controls on nearly all products, even including items it doesn’t currently produce. He described China’s approach as highly aggressive and warned that it could disrupt international trade on a global scale.

**China’s Rare Earth Restrictions Spark Retaliation**

This announcement follows China’s recent decision to tighten control over the export of rare earth elements. These minerals are vital for producing technology, semiconductors, and defense equipment. The U.S. relies heavily on China for these materials — about 70% of rare earths used in American industries come from Chinese sources.

Trump criticized China’s move as “hostile” and “unexpected,” warning that America would be forced to respond with strong economic measures. He suggested that for every resource China tries to control, the U.S. has alternatives and is ready to act.

**Market Reaction: Stocks and Crypto Take a Hit**

Following Trump’s announcement and rising trade concerns, the U.S. stock market took a hit. The Invesco QQQ Trust (NASDAQ: QQQ), which tracks major tech companies, dropped by 1.22% in after-hours trading, landing at $582.33.

Cryptocurrency markets also saw major losses. Bitcoin fell by nearly 9%, sitting close to $110,600, while Ethereum dropped 14%, hovering around $3,720. These declines reflect growing investor anxiety over escalating trade conflicts between two of the world’s biggest economies.

**Key Takeaways**

– Starting Nov. 1, the U.S. will impose new 100% tariffs on all goods imported from China.
– Export restrictions on critical software technologies will also be enforced globally.
– China plans broad export controls on nearly all products, triggering U.S. retaliation.
– Markets reacted negatively: stocks dropped, and cryptocurrencies saw sharp declines.
– Rare earth mineral tensions add pressure to already strained U.S.-China relations.

This latest development marks a significant escalation in trade disputes and could have major implications for global supply chains, tech industries, and financial markets worldwide.