In a sharp escalation of tensions, US President Donald Trump on Friday reignited the trade war with China, breaking a fragile truce by announcing steep tariff hikes in response to Beijing’s move to restrict critical mineral exports.

The president unveiled additional levies of 100% on China’s US-bound exports, along with new export controls on “any and all critical software” by November 1, nine days before existing tariff relief is set to expire.

Trump also called into question the prospects for a previously announced meeting set for three weeks from now with Chinese President Xi Jinping in South Korea , saying on Truth Social that “now there seems to be no reason to do so”.

“I haven’t canceled,” Trump later told reporters at the White House. “I would assume we might have it.” Beijin

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