Trump Imposes 100% Tariffs on China, US Markets Crash
US President Donald Trump is facing another challenge. This time, he has directed it towards China. Having already imposed 50 tariffs on India, Trump has now shown increased aggression towards China. India continues its work without retaliating against Trump's decisions, while China is openly challenging America. Since Trump initiated this tariff war, China has been following the same stance. There was a time when Trump backed down on China, but now he has made a sensational announcement of imposing an additional 100% tariff on China. With the existing 30% tariff, the total tariffs have now reached 130%. The new tariffs may come into effect from November 1st or even earlier. The recent restrictions imposed by China on exports of rare minerals to the US have triggered Trump's anger. In retaliation, Trump has ramped up the tariff war on China. Trump was considering meeting Chinese President Xi Jinping at the Asia-Pacific Economic Cooperation summit at the end of October, but now he believes there is no point in holding talks with Jinping under the current circumstances. Trump has warned that if China takes aggressive steps in response to these tariffs, they will come into effect starting this month.
Trump accused China of engaging in strange activities. He mentioned that China wants to impose multiple restrictions on rare minerals and is sending letters to the entire world regarding this. This decision by China will impact all countries without exception. "We have had good relations with China for a long time, but their actions are quite surprising," said Trump. "We have decided to impose heavy tariffs on their products." According to reports, the decision was made based on the information that China is trying to impose massive tariffs on all American-made products. With Trump's announcement of 100% tariffs on China, American markets crashed. Reports suggest that this single blow led to a loss of around 1.5 trillion in wealth. It remains to be seen whether Trump will stick to this stance on tariffs against China or if he will change his decision later."
