Washington: US President Donald Trump announced on Friday that the United States would impose new tariffs of 100 percent on imports from China, effective November 1. These tariffs will be "over and above any Tariff that they are currently paying," according to Trump's statement. Additionally, the US will implement export controls on "any and all critical software" on the same date. According to Kuwait News Agency, Trump's announcement followed his earlier threat to significantly increase tariffs on Chinese imports. This move is in retaliation to China's recent imposition of new controls on the export of rare earth minerals. China contributes approximately 70 percent of the global supply of these minerals, which are crucial for high-tech industries such as automobiles, defense, and semiconductors. Furthermore, Trump hinted at the possibility of canceling a meeting with Chinese President Xi Jinping at the upcoming Asia-Pacific Economic Cooperation summit in South Korea. This suggestion comes in light of the t ensions arising from China's new export controls. Currently, nearly every product imported from China into the United States is subject to steep tariffs, and the upcoming measures will add further strain to the economic relationship between the two countries.
