Trump Slaps 100% Tariffs on China, Igniting New Trade War Fury

President Donald Trump escalated the long-simmering US-China trade war Friday, unveiling a 100% tariff on Chinese imports atop existing duties, set to take effect November 1 or earlier. The move targets Beijing's recent export restrictions on rare earth elements, vital for electronics, defense tech and renewables, where China controls over 80% of global processing. Trump labeled China's actions an 'extraordinarily aggressive position' in a Truth Social post, accusing it of a premeditated plan affecting all nations.[1] China's restrictions, announced hours before Trump's response, include bans on re-exporting rare earths to the US, even via third countries like India. This follows a 2025 spiral: Trump hiked tariffs to 20% on March 3, prompting China's 15% duties on US chicken, wheat, corn and cotton, plus 10% on soybeans, pork and dairy by March 10. Escalations peaked with US rates at 145% and China's at 125%, before a May 12 truce slashed them to 30% and 10% respectively.[3] The fresh tariffs revive memories of the 2018 trade war, sparked by Section 301 probes into China's IP theft and forced tech transfers, hitting $50-60 billion in goods like aircraft parts and semiconductors. Biden's 2024 hikes—100% on Chinese EVs, 50% on solar cells—phased in through September 27, set the stage for Trump's second-term fury. A November 2025 White House deal briefly eased fentanyl-related tariffs, suspending reciprocal hikes until November 10, 2026, but rare earth hostilities have torpedoed that détente.[2][3] US export controls on critical software from American firms accompany the tariffs, aiming to shield tech amid Beijing's probes into Google and semiconductor firms. China previously suspended farm tariffs post-truce but now eyes retaliation on US agriculture, echoing 25% soybean hits from 2018. Analysts forecast 0.2% global trade shrinkage from peak duties, with US firms like PVH and Illumina already blacklisted.[1][3] Wall Street tumbled on the news, with tech stocks leading losses as rare earth curbs threaten supply chains for chips and EVs. Trump, who threatened massive hikes pre-announcement, frames this as defending against 'unfair practices,' but Beijing vows countermeasures. Talks of a US-China 'Board of Trade' surfaced recently, yet Friday's salvos dim prospects for quick resolution.[5]