Trade Tensions Surge as Trump Threatens New Tariffs on China

President Donald Trump has announced the imposition of a new 100% tariff on Chinese imports starting November 1, citing China's export controls on rare earth elements as the catalyst for this drastic measure. The announcement renews fears of economic instability and possible disruptions in global markets.

Trump's decision, shared on his social media, suggests a potential escalation in the trade conflict with China, raising tariffs to unprecedented levels. The tariffs will be in addition to the existing 30% on Chinese goods. This decision risks straining international relations and causing turmoil in financial markets.

Officials in Washington have not indicated any plans to cancel Trump's meeting with Chinese President Xi Jinping. Nonetheless, tensions continue to grow, with each country wielding economic measures as strategic negotiating tools, creating potential obstacles to future trade discussions.

(With inputs from agencies.)