Trump: U.S. to Impose 100% Tariffs on Chinese Goods on November 1

The U.S. will increase customs duties on China by 100% and impose export controls starting November 1. This was announced by the U.S. President.

Donald Trump stated that "China has taken an extremely aggressive stance" and announced that starting November 1, he will "impose export controls on virtually all products they produce."

The White House's statements sent global markets reeling, with all three major U.S. stock indexes plummeting. Tech giants such as Tesla, Amazon, and Nvidia suffered heavily.

Cryptocurrencies suffered an even more powerful blow. Bitcoin fell below $105,000 for the first time since June 2025. Some other cryptocurrencies lost up to 80%. Despite the trade war with China, Trump nevertheless allowed for the possibility of a face-to-face meeting with the Chinese president.