The US-China trade war has just escalated. President Donald Trump on Friday announced that the United States will slap a crushing 100% tariff on all Chinese goods starting November 1, effectively doubling the cost of Chinese imports overnight, in direct retaliation to Beijing's sweeping new export controls on rare earth elements.

"Starting November 1, 2025, the United States of America will impose a Tariff of 100% on China, over and above any Tariff that they are currently paying," Trump declared on Truth Social, adding that Washington will also impose export controls on "all critical software and aircraft parts.

What Triggered This Escalation?

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China fired the first shot. Earlier this week, Beijing announced unprecedented export restrictions on rare e

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