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President Trump hit China hard in a post early this morning, which was not expected and caught most people off-guard.
Full report here in case you missed it:
Now, right after the stock market closed, he just announced new and additional 100% tariffs on all Chinese goods, effective November 1.
This was NOT expected:
🚨 BREAKING: President Trump slaps 100 PERCENT TARIFFS on CHINA beginning Nov. 1 – above any current tariffs. YIKES. They messed up.
“It has just been learned that China has taken an extraordinarily aggressive position on Trade in sending an extremely hostile letter to the… pic.twitter.com/Xc60DXGsT1
— Eric Daugherty (@EricLDaugh) October 10, 2025
Here’s the full post:
That might be small and hard to read, so here’s the full text:
Donald J. Trump
@realDonaldTrumpIt has just been learned that China has taken an extraordinarily aggressive position on Trade in sending an extremely hostile letter to the World, stating that they were going to, effective November 1st, 2025, impose large scale Export Controls on virtually every product they make, and some not even made by them. This affects ALL Countries, without exception, and was obviously a plan devised by them years ago. It is absolutely unheard of in International Trade, and a moral disgrace in dealing with other Nations.
Based on the fact that China has taken this unprecedented position, and speaking only for the U.S.A., and not other Nations who were similarly threatened, starting November 1st, 2025 (or sooner, depending on any further actions or changes taken by China), the United States of America will impose a Tariff of 100% on China, over and above any Tariff that they are currently paying. Also on November 1st, we will impose Export Controls on any and all critical software.
It is impossible to believe that China would have taken such an action, but they have, and the rest is History. Thank you for your attention to this matter!
The stock market was closed but after-hours trading and the crypto market TANKED immediately upon the news:
JUST IN: Crypto market records largest single-day liquidation event in history.
— Watcher.Guru (@WatcherGuru) October 11, 2025
It looked a little bit like this:
BREAKING: Trump just announced a “massive increase” in tariffs on China.
Within 3 minutes, the S&P 500 wiped out $700 billion in market value. pic.twitter.com/2kX4PUFPoz
— Crypto Rover (@rovercrc) October 10, 2025
And this:
BREAKING: Total crypto market cap losses exceed -$300 BILLION on the day as President Trump announces a 100% tariff on China. pic.twitter.com/85CNdqOY1x
— The Kobeissi Letter (@KobeissiLetter) October 10, 2025
Bitcoin traded as low as $104,000 but has now stabilized back up to about $112,500 as of press time for this article:
Somebody check on Michael Saylor @saylor
Bitcoin just had a stroke. pic.twitter.com/Lq25iBPVhw
— Bald Guy Money (@baldguymoney) October 10, 2025
Here’s more on the drastic move, from CNN:
President Donald Trump said Friday he would impose a 100% tariff on China “over and above any Tariff they are currently paying” effective November 1 – massively escalating his trade war amid a heated dispute over export controls on rare earths.
In a Truth Social post, Trump wrote that China had “taken an extraordinarily aggressive position on Trade in sending an extremely hostile letter to the World, stating that they were going to, effective November 1st, 2025, impose large scale Export Controls on virtually every product they make, and some not even made by them.”
“This affects ALL Countries, without exception, and was obviously a plan devised by them years ago,” he wrote. “It is absolutely unheard of in International Trade, and a moral disgrace in dealing with other Nations.”
Trump said he would impose the new tariff November 1 “or sooner, depending on any further actions or changes taken by China.”
Earlier in the day, Trump had blasted Chinese leader Xi Jinping on social media over China’s ramped-up efforts to impose export controls on critical rare earths, threatening economic retaliation and saying he no longer sees any reason to meet with Xi during a scheduled visit to the region later this month. At the time, Trump also threatened economic penalties against China, warning, “Dependent on what China says about the hostile ‘order’ that they have just put out, I will be forced, as President of the United States of America, to financially counter their move.”
“For every Element that they have been able to monopolize, we have two,” he added.
Beijing ramped up sweeping restrictions on rare earth exports on Thursday, expanding the list of minerals under control and extending controls targeting their production technologies and their overseas use, including for military and semiconductor applications. The actions targeted an acute vulnerability for the US – one that has driven a significant Trump administration effort in recent months to identify, and rapidly scale up, mining and production capacity. And it immediately set off alarm bells inside the Trump administration, according to several administration officials.
The move came as Beijing has sought to boost its leverage in trade talks with the United States and ahead of an expected meeting between Xi and Trump on the sidelines of the APEC summit in South Korea later this month. Some administration officials saw it as a clear effort by Xi to secure leverage ahead of his planned face-to-face meeting with Trump, while others pointed to US export control actions that may have triggered a Chinese response.
This is a Guest Post from our friends over at WLTReport.