Trump puts extra 100% tariff on China imports, adds export controls on ‘critical software’

Trump puts extra 100% tariff on China imports, adds export controls on ‘critical software’
Key Points
  • President Donald Trump said the United States would impose a new tariff of 100% on imports from China “over and above any Tariff that they are currently paying,” starting on Nov. 1.
  • Trump also said that the U.S. on that same date also would impose export controls on “any and all critical software.”
  • The move is in retaliation for new export controls that China imposed on rare earths minerals.
  • Around 70% of the global supply of rare earths minerals comes from China. The minerals are essential for high-tech industries, including automobiles, defense and semiconductors.

U.S. President Donald Trump points a finger as he speaks during a roundtable on antifa, an anti-fascist movement he designated a domestic "terrorist organization" via executive order on September 22, at the White House in Washington, D.C., U.S., October 8, 2025. REUTERS/Evelyn Hockstein

 

President Donald Trump on Friday said the United States would impose new tariffs of 100% on imports from China “over and above any Tariff that they are currently paying,” starting on Nov. 1.

Trump also said that the U.S., on that same date, would also impose export controls on “any and all critical software.”

Trump adds 100% tariff on China, critical software export controls

The president’s announcement came hours after he threatened to slap “a massive increase” of tariffs on Chinese imports in retaliation for new controls that China imposed on exports of rare earths minerals from that nation.

Around 70% of the global supply of rare earths minerals comes from China. The minerals are essential for high-tech industries, including automobiles, defense and semiconductors.

Trump suggested earlier Friday that he would cancel a meeting with Chinese President Xi Jinping at the upcoming Asia-Pacific Economic Cooperation summit in South Korea because of China’s new controls.

Nearly every product imported into the U.S. from China already faces steep tariffs. While there are different levels of specific duties on imports, ranging from 50% on steel and aluminum, to 7.5% on consumer goods, the so-called effective tariff rate on Chinese imports currently is 40%, according to Wells Fargo Economics and analysts at the Federal Reserve Bank of New York.

“It has just been learned that China has taken an extraordinarily aggressive position on Trade in sending an extremely hostile letter to the World, stating that they were going to, effective November 1st, 2025, impose large scale Export Controls on virtually every product they make, and some not even made by them,” Trump wrote in a Truth Social post on Friday.

White House to impose 25% tariff on $50bn worth of Chinese goods | China |  The Guardian

“This affects ALL Countries, without exception, and was obviously a plan devised by them years ago. It is absolutely unheard of in International Trade, and a moral disgrace in dealing with other Nations,” Trump wrote.

“Based on the fact that China has taken this unprecedented position, and speaking only for the U.S.A., and not other Nations who were similarly threatened, starting November 1st, 2025 (or sooner, depending on any further actions or changes taken by China), the United States of America will impose a Tariff of 100% on China, over and above any Tariff that they are currently paying,” he wrote.

“Also on November 1st, we will impose Export Controls on any and all critical software.”

China’s Ministry of Commerce on Thursday said that starting Dec. 1 foreign entities must have a license to export products that contain more than 0.1% of rare earths sourced from that country, or that are manufactured using Chinese extraction, refining, magnet-making or recycling technology.

 

US raises tariffs on China to 104%, Beijing says ready to 'fully offset'  shocks - India Today

 

Trump says ‘a lot’ of federal workers are being laid off during government shutdown

Key Points
  • President Donald Trump threatened to slap a “massive increase of Tariffs” on Chinese products imported into the United States.
  • Trump cited export controls that China imposed on rare earths from that country.
  • Trump also threatened to cancel his upcoming meeting with Chinese President Xi Jinping because of the dispute.

 

 

Trump administration begins laying off more than 4,000 federal workers –  NBC4 Washington

 

President Donald Trump on Friday threatened to slap a “massive increase of Tariffs” on Chinese products imported into the United States to “financially counter” new export controls that China imposed on rare earths from that country.

Trump also threatened in a social media post to cancel his upcoming meeting with Chinese President Xi Jinping because of the dispute.

Trump administration begins mass layoffs across multiple federal agencies:  Sources - Good Morning America

Stock markets dropped after Trump’s bellicose Truth Social post about China, in which he said that “there is no way that” country “should be allowed to hold the World ‘captive’” with its rare earths policy.

China controls about 70% of the global supply of rare earths minerals, which are critical for high-tech industries, including automobiles, defense and semiconductors.

“One of the Policies that we are calculating at this moment is a massive increase of Tariffs on Chinese products coming into the United States of America,” Trump wrote. “There are many other countermeasures that are, likewise, under serious consideration. Thank you for your attention to this matter!”

China’s Ministry of Commerce on Thursday said that foreign entities must now obtain a license to export products that contain more than 0.1% of rare earths sourced from that country, or that are manufactured using Chinese extraction, refining, magnet-making or recycling technology.

The new rules for rare earths exports are set to take effect Dec. 1.

ANKARA, TURKIYE - APRIL 10: In this photo illustration portraits of US President Donald Trump and Chinese President Xi Jinping are displayed on computer screen as US flag is seen in Ankara, Turkiye on April 10, 2025.

“Some very strange things are happening in China!” Trump wrote in his Truth Social post.

“They are becoming very hostile, and sending letters to Countries throughout the World, that they want to impose Export Controls on each and every element of production having to do with Rare Earths, and virtually anything else they can think of, even if it’s not manufactured in China,” Trump wrote.

The president said he had not spoken to Xi about the issue “because there was no reason to do so.”

“This was a real surprise, not only to me, but to all the Leaders of the Free World. I was to meet President Xi in two weeks, at APEC, in South Korea, but now there seems to be no reason to do so,” Trump wrote, referring to the Asia-Pacific Economic Cooperation summit.

Trump claimed that the United States has been contacted by other countries that are “extremely angry at this great Trade hostility, which came out of nowhere.”

“Our relationship with China over the past six months has been a very good one, thereby making this move on Trade an even more surprising one,” he wrote.

The Chinese Embassy in Washington, D.C., did not immediately respond to a request for comment.

 

Treasury weighs minting $1 coin with Trump’s face for U.S. 250th anniversary

Key Points
  • The Treasury Department is considering minting a $1 coin bearing President Donald Trump’s likeness on both sides.
  • A first draft of that coin shows Trump’s head in profile on one side, above the words “IN GOD WE TRUST” and the dates 1776 and 2026.
  • The other side of the coin mirrors a widely viewed photo taken of Trump in the moments after he survived an assassination attempt at a 2024 presidential campaign rally in Pennsylvania.

A "draft" from The Treasury Department of a $1 commemorative coin that it plans to mint next year.

 

 

 

The Treasury Department is considering minting a $1 coin bearing President Donald Trump’s likeness on both sides to honor him and commemorate the United States’ 250th birthday next year.

A first draft of that coin, which will mark the semiquincentennial anniversary of the nation’s founding, depicts Trump’s head in profile on one side, above the words “IN GOD WE TRUST” and the dates 1776 and 2026.

Bessent Unveils Illegal Plan to Put Trump's Face on U.S. Coins

The other side of the coin shows a defiant-looking Trump raising his fist, closely matching the pose he struck moments after surviving an assassination attempt at a 2024 presidential campaign rally in Pennsylvania.

The words “FIGHT FIGHT FIGHT,” which Trump mouthed to his supporters right after that attack, appear around the edge of that side of the coin.

“No fake news here. These first drafts honoring America’s 250th Birthday and @POTUS are real,” U.S. Treasurer Brandon Beach wrote on X in response to a post touting sketches of the coin.

“Looking forward to sharing more soon, once the obstructionist shutdown of the United States government is over,” Beach wrote.

Treasury Secretary Scott Bessent reposted Beach’s message from his own X account.

A Treasury spokesperson told CNBC that a final design for a $1 coin to commemorate the anniversary has not yet been selected.

 

Donald Trump Coin 2024 Shooting Collection Trump Assassinated Coins (Gold  2) : Amazon.com.au: Toys & Games

But “this first draft reflects well the enduring spirit of our country and democracy, even in the face of immense obstacles,” the spokesperson said, adding, “We look forward to sharing more soon.”

Commemorative coins are legal tender, but they are not minted for general circulation, according to the United States Mint.

It was not immediately clear if the government has created any previous commemorative coins or other coins depicting a living president.

federal law signed by Trump in January 2021 — just a week before his first term in office ended — allows the Treasury secretary to mint $1 coins “with designs emblematic of the United States semiquincentennial” during the year of the anniversary.

But that same law, under a heading on standards for circulating collectible coins, states, “No head and shoulders portrait or bust of any person, living or dead, and no portrait of a living person may be included in the design on the reverse of any coin under subsections (x), (y), and (z).”

Subsection Y refers to the rules about coins for the 250th anniversary.

That language appears in similar forms in other coin-related laws listed on the U.S. Mint’s website.

The Federal Reserve Bank of San Francisco notes, “To avoid the appearance of a monarchy, it was long-standing tradition to only feature portraits of deceased individuals on currency and coin.”

“That tradition became law with an 1866 Act of Congress,” the Fed bank added.

The Treasury Department did not provide a comment in response to CNBC’s questions about the legality of the draft coin.

 

Trump administration starts laying off thousands of workers

Getty Images Donald Trump's budget chief Russell Vought

The Trump administration has begun laying off thousands of federal workers in an effort to pressure Democrats amid the ongoing government shutdown.

“The RIFs have begun,” White House Office of Management Director Russell Vought announced in a post on X on Friday morning, referring to an acronym for “reductions in force”.

A spokesman for his office confirmed the cuts had started and were “substantial”. Their size and scope began coming into focus later on Friday, when the administration disclosed seven agencies had started laying off more than 4,000 workers.

President Donald Trump has repeatedly threatened to use the shutdown to further his long-held goal of reducing the federal workforce.

By law, the federal government must give its workers at least 30-days notice that it is laying them off.

Trump begins mass layoffs of federal workers amid government shutdown

After Vought’s tweet, major departments such as Treasury and Health and Human Services (HHS) confirmed they were issuing notices to employees, and Homeland Security, where many of its employees are considered essential, said it would lay off workers at its Cybersecurity and Infrastructure Security Agency.

But exact details were scarce.

Two major unions, the American Federation of Government Employees and AFL-CIO, had filed a lawsuit challenging the legality of Vought’s announced plans to carry out layoffs during the shutdown.

On Friday, once he said the process had begun, they asked a federal court in Northern California to temporarily block the move.

“It is disgraceful that the Trump administration has used the government shutdown as an excuse to illegally fire thousands of workers who provide critical services to communities across the country,” AFGE president Everett Kelley said.

Judge temporarily blocks Trump administration from laying off federal  employees - POLITICO

In its opposition to the temporary restraining order, lawyers for the OMB revealed which agencies and how many of their employees would be affected first, indicating an estimated 4,600 employees would receive RIF notices starting on Friday.

“The President, through OMB, has determined that agencies should operate more efficiently and has directed them to consider steps to optimize their workforces in light of the ongoing lapse in appropriations,” the justice department attorneys argued in the filing.

More than a quarter of the cuts would be made at the Treasury Department, where notices were being sent to approximately 1,446 employees.

HHS was notifying between 1,100 and 1,200 employees, the filing said.

The Department of Education and Department of Housing and Urban Development intended to lay off at least 400 employees apiece, while the Departments of Commerce, Energy, Housing and Urban Development and Homeland Security each planned cuts ranging between 176 to 315 employees, according to the filing.

There was no indication about how many notices the agencies issued on Friday.

The filing also said that 20 to 30 at the Environmental Protection Agency were issued “intent to RIF” notice on Friday, notifying them that they may be affected in the future. Other federal agencies might also make cuts.

The government lawyers said the labour unions had failed to establish that their members would be irreparably harmed by the layoffs, which is needed for the judge to grant the restraining order. But they said a restraining order would “irreparably harm the government”.

A temporary restraining order would prevent agencies “determining how best to organize their workforces”, they argued, noting that the government has traditionally been granted the widest latitude in the “dispatch of its own internal affairs”.

 

Getty Images An image showing the US Capitol building in Washington DC with a sign in front of it that reads: "The US Capitol Visitor Center is closed due to a lapse in appropriations."

The layoffs are unprecedented. In past shutdowns, furloughed employees returned to work when the government reopened and were paid retroactively for their time away.

Both furloughed and “essential” workers who must still carry out their job duties are not paid when government funding is temporarily cut off.

The current shutdown began 10 days ago, after lawmakers failed to reach a deal on a funding measure to keep the government open.

“They held off for 10 days,” Republican Senator John Thune told reporters, referring to the White House. “At some point they were going to have to make some of these decisions and prioritise where they’re going to spend money when the government is shut down.”

Senate Minority Leader Chuck Schumer, a Democrat, accused Trump and Vought of causing “deliberate chaos”.

Democrats have refused to vote for a Republican spending plan that would reopen the government, saying any resolution must preserve expiring tax credits that reduce health insurance costs for millions of Americans and reverse Trump’s cuts to Medicaid, the healthcare program for elderly and low-income people.

Republicans accuse Democrats of unnecessarily bringing the government to a halt, and blame them for the knock-on effects caused by the federal work stoppage.

A shutdown meant that “non-essential” federal workers would be placed on unpaid leave. It is currently affecting about 40% of the federal workforce – about 750,000 people.

Furloughed employees are legally supposed to receive back-pay after a shutdown ends and they return to work, but the Trump administration has insinuated this might not happen.

Significantly culling the federal workforce has been a long-term priority for Vought.

State Department lays off 1,300 staffers under Trump plan | AP News

The president and his budget chief have greeted the shutdown as a unique opportunity to make further firings on top of the thousands of cuts they have made since Trump returned to office in January through a combination of firings, buyouts, administrative leave and resignations.

The Partnership for Public Service, a bipartisan group studying the government, estimated the federal workforce had been reduced by about 200,000 employees as of 23 September.

Career services firm Challenger, Gray & Christmas, reported last month that the government sector had announced 299,755 planned job cuts this year, of which 289,363 were federal workers impacted by the Department of Government Efficiency (Doge), the White House cost-cutting effort initially led by billionaire Elon Musk.

Before the shutdown, Vought’s office instructed federal agencies to prepare reduction-in-force plans aimed at cutting employees or programmes whose funding might lapse or were “not consistent with the President’s priorities”, Politico reported.

One day after the shutdown began, Trump posted on Truth Social that he had met with Vought “to determine which of the many Democrat Agencies, most of which are a political SCAM, he recommends to be cut, and whether or not those cuts will be temporary or permanent.”

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