Trump announces additional 100 percent tariffs on Chinese goods

US President Donald Trump has announced an additional 100 percent tariff on Chinese goods from next month. He also said that he will impose export controls on important software. He made the announcement on social media Truth on Friday (October 10). BBC News.
Earlier, in another post on Truth, Trump said that China was becoming very ‘hostile’ by imposing restrictions on their rare earth energy exports. Through this, he commented that China was trying to ‘hold the world hostage’.
He even threatened to withdraw from a meeting with Chinese President Xi Jinping. Later, he said that the meeting had not yet been canceled, but he did not know if it would happen.
Meanwhile, the US stock market saw a significant decline after Trump’s comments. The index closed down 2.7%, which is the biggest decline since April.
Incidentally, the current US tariff on Chinese goods is 30%. If Trump’s additional tariffs take effect on November 1, the total tariff will be 130 percent.