WASHINGTON (AP) — President Donald Trump said Friday that he’s placing an additional 100% tax on Chinese imports starting on Nov. 1 or sooner, potentially escalating tariff rates close to levels that in April fanned fears of a steep recession and financial market chaos.

The president said he is imposing these new tariffs because of export controls placed on rare earths by China.

Trump said on Truth Social that “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.”

Trump said Friday that “there seems to be no reason” to meet with Chinese leader Xi Jinping as part of an upcoming trip to South Korea and threatened addi

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