President Donald Trump declared Friday that he will impose a 100% tariff on all imports from China, while also imposing export controls on “any and all critical software” from the United States.

This is the latest move in what looks like an escalating trade conflict between the United States and China. In a Truth Social post announcing the tariffs, Trump also said this new tariff would be “over and above” any tariffs already imposed on Chinese imports. (CNBC reports that while U.S. tariffs on Chinese imports vary depending on the goods, the base tariff rate is already 40% .)

Earlier this week, China announced that it is tightening its export controls on rare earth minerals , requiring that foreign companies apply for a license if they want to export products with even a small amoun

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