Trump Has Promised To Increase Duties Against China To 130%

• 11.10.2025, 11:55

Markets reacted to the US President's statement.

U.S. President Donald Trump announced that he will impose additional 100 percent duties on Chinese imports starting November 1, raising the total tariffs to 130 percent.

He made the announcement on his social media network Truth Social. Trump also added that Washington would impose export controls on "critical software," but did not specify which technologies would fall under the restrictions.

The decision on the new duties came amid China's tightening of rules on exports of rare earth metals needed by US manufacturers. Trump had earlier canceled a planned meeting with Chinese President Si Jinping at the APEC summit in South Korea in this regard, saying "there is no reason for that now." At the same time, he promised a "massive increase in duties on Chinese products coming into the United States," also indicating that "other serious countermeasures are also being considered."

Markets reacted to Trump's statement by falling key indices. At the end of trading, the Dow Jones index was down 1.9%, the S& P 500 was down 2.7% and the Nasdaq was down 3.5% from the previous day.

U.S. Trade Representative Jamison Greer, meanwhile, said in an interview with Fox News that Washington is ready for a trade war with China if necessary. "We'll see. It's not necessary, but we're ready, and we believe Americans are ready as well," he said. At the same time, Greer emphasized that the US and China "can have a balanced relationship" if Beijing "changes aspects of its economy where it produces too much, uses unfair trade practices and tries to dictate terms to everybody."

The new duties would be a continuation of the trade war launched by Trump in April 2025. At the peak of the standoff, the rates were as high as 145% for Chinese imports into the US and 125% for US goods in China. The sides subsequently reduced the tariffs to 30% and 10% respectively.