US President Trump announces additional 100pc tariff on Chinese imports

Washington: US President Donald Trump has announced additional import taxes on China.

Donald Trump turned to his social media platform, Truth Social, and announced a new 100 percent tariff on China.

Trump said that the US will impose an additional 100 percent tariff on Chinese imports from November, and tough trade measures will be taken to protect American products.

Chinese products are already subject to a 30 percent tariff by the US. Now, after the announcement of the new import tax, global stock markets have fallen.

A few hours before this announcement, Trump had said in a long post on Truth Social that China has sent letters to countries around the world regarding export restrictions on rare earth minerals.

These rare minerals are used in smartphones, electric vehicles, military equipment, and renewable energy technology, and China is the world leader in their production and processing.

Trump had said that China cannot be allowed to hold the world hostage.

He described China's behavior as extremely hostile.

In addition, the US president indicated that he would probably not meet Chinese President Xi Jinping at the APEC meeting, which was scheduled to be held in South Korea this month.