Trump threatens extra 100% tariffs on China

The US administration wants to take retaliatory action for China’s rare earth export controls. US stock markets and cryptocurrencies lost billions of dollars in value on October 9, while gold has reached $4,000 an ounce. China's commerce ministry said "we aren't afraid to fight".

Andrew Tjaardstra

October 12, 2025

US stock markets and cryptocurrencies retreated on Friday, October 9, as the US president Donald Trump took to Truth Social to threaten extra 100% tariffs on Chinese goods from November 1. The US already has 30% tariffs on Chinese goods.

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