Mr. Trump announced that he will impose an additional 100% tax on Chinese goods.

VTV.vn - Mr. Trump said on social media that this decision was made in response to China's imposition of rare earth export controls.

According to AP, US President Donald Trump announced on October 10 that he would impose an additional 100% tax on imports from China starting on November 1 or sooner, a move that could raise tariffs close to the levels that raised fears of a severe recession and financial chaos in April.

In the post, Mr. Trump stated: “Starting November 1, 2025 (or earlier, depending on China’s further actions or changes), the United States will impose 100% tariffs on China, in addition to current tariffs.”

The announcement, made after US financial markets closed, threatens to shake the global economy. Rekindling the trade war that Trump himself started could paralyze trade between the world’s two largest economies, with the additional tariffs on top of the roughly 30% already imposed on Chinese goods. The increase could exacerbate domestic political pressures, fuel inflation amid a weak labor market and risk government layoffs due to budget delays.

President Trump also said the US would respond by imposing its own export controls on “all critical software” from US companies.

According to observers, this could be a deterrent move before negotiations, or a retaliatory action that could increase concerns about global economic stability.

The US and China have been trying to maintain trade talks recently, after tariffs announced earlier this year sparked a trade war between the two countries. Although the two sides agreed to reduce tariffs after talks in Switzerland and the UK, tensions have continued as China continues to restrict exports of rare earths, a key source of many US technologies.

The announcement sent shockwaves through Wall Street, sending the S&P 500 down 2.7% on fears of escalating trade tensions between the world's two largest economies. It was the biggest drop since April, when Trump first raised the possibility of imposing similar tariffs. However, the market closed before he could detail his new tax plan.

Source: https://vtv.vn/ong-trump-tuyen-bo-se-ap-thue-bo-sung-100-voi-hang-hoa-trung-quoc-100251011070420146.htm