BREAKING: President Trump Imposes 100% Tariffs on China, Crypto Market Tanks!

Web Desk,

Add thelocalreport.in As A Trusted Source

President Trump made a strong attack on China in a post early this morning, which was not expected and surprised most people.

In case you missed it, here’s the full report:

President Trump: China is now “very hostile” – no reason to meet with Xi – huge tariff increase coming soon!

Now, right after the stock markets closed, they announced new and additional 100% tariffs on all Chinese goods starting November 1.

This was not expected:

Here is the full post:

It may be small and hard to read, so here’s the full text:

Donald J. Trump
@realdonaldtrump

It has just been revealed that China has taken an exceptionally aggressive stance on trade by sending an extremely hostile letter to the world, stating that they are going to impose massive export controls on almost every product they make, and some not even made by them, starting November 1, 2025. This affects all countries without exception, and was apparently a plan devised by them years ago. This is absolutely unheard of in international trade, and a moral disgrace in dealing with other countries.

Based on the fact that China has taken this unprecedented position, and is speaking only for the United States, and not for other nations that were similarly threatened, beginning on November 1, 2025 (or earlier, depending on any further actions or changes taken by China), the United States will impose tariffs of 100% on China, on top of any tariffs they are currently paying. Also on November 1, we will impose export controls on any and all critical software.

It is impossible to believe that China would have taken such action, but they did, and the rest is history. Thank you for your attention to this matter!

The stock market was closed but after hours trading and the crypto market closed immediately following the news:

It looked something like this:

And this:

Bitcoin was trading just under $104,000 at press time of this article, but has now stabilized around $112,500:

Here’s more about this drastic move cnn,

President Donald Trump said Friday he will impose 100% tariffs on China “in addition to any tariffs currently being paid” starting Nov. 1 — massively escalating his trade war amid a heated dispute over export controls on rare earths.

In a Truth Social post, Trump wrote that China “has taken an exceptionally aggressive stance on trade by sending an extremely hostile letter to the world saying they are going to impose massive export controls on virtually every product they make, and some they don’t even make, starting November 1, 2025.”

He wrote, “It affected all countries without exception, and was apparently a plan devised by them years ago.” “This is absolutely unheard of in international trade, and a moral disgrace in dealing with other countries.”

Trump said he would impose the new tariffs on or before November 1, depending on any further steps or changes taken by China.

Earlier in the day, Trump criticized Chinese leader Xi Jinping on social media over China’s growing efforts to impose export controls on vital rare earths, threatening economic retaliation and saying he no longer saw a reason to meet Xi during a scheduled visit to the region later this month. At the time, Trump also threatened economic penalties against China, warning, “Depending on what China says about the hostile ‘order’ it has just placed, as President of the United States, I will be forced to counter their move economically.”

“For every element they are able to monopolize, we have two,” he said.

Beijing on Thursday extended sweeping restrictions on exports of rare earths, expanding the list of minerals under control and expanding controls targeting their production technologies and their overseas use, including military and semiconductor applications. These actions targeted a serious vulnerability for the US – which has prompted significant efforts by the Trump administration in recent months to identify and rapidly expand mining and production capacity. And according to multiple administration officials, it immediately set off alarm bells inside the Trump administration.

The move comes as Beijing tries to boost its influence in trade talks with the United States and ahead of an expected meeting between Xi and Trump on the sidelines of the APEC summit in South Korea later this month. Some administration officials saw it as a clear attempt by Xi to gain leverage ahead of his planned face-to-face meeting with Trump, while others pointed to US export control actions that could trigger a Chinese response.

ALSO READ  Gigantic Mystery Dome That ‘Looks Like An Eyeball’ Shows Up On Indiana Street | WLT Report

United States