WASHINGTON, Oct 10 (KUNA) -- US President Donald Trump said Friday that his country would impose new tariffs of 100 percent on imports from China "over and above any Tariff that they are currently paying," starting on Nov. 1.
Trump also said that the US, on that same date, would also impose export controls on "any and all critical software." The president's announcement came hours after he threatened to slap "a massive increase" of tariffs on Chinese imports in retaliation for new controls that China imposed on exports of rare earths minerals from that nation.
Around 70 percent of the global supply of rare earths minerals comes from China.
The minerals are essential for high-tech industries, including automobiles, defense and semiconductors.
Earlier, Trump suggested that he would cancel a meeting with Chinese President Xi Jinping at the upcoming Asia-Pacific Economic Cooperation summit in South Korea because of China's new controls.
Nearly every product imported into the US from China already faces steep tariffs. (Pickup previous) asj.mb