Washington:
Global markets are seeing a sharp decline after an additional 100% US tariff was imposed on China.
According to international news agencies, US President Donald Trump has once again taken tough trade action against China and announced the imposition of an additional 100% tariff on Chinese imports, which has sparked a new wave of uncertainty in the global economy.
Trump made the announcement on his social media platform Truth Social, saying that starting in November, taxes will be imposed on all imports from China to the United States to protect American products and local industries from unfair competition.
The United States has already imposed tariffs of about 30 percent on Chinese products, but now a sharp increase in this rate could further strain global trade relations.
Global stock markets are seeing a sharp decline after Trump's announcement, while investors are becoming increasingly anxious. Experts say the decision could have an impact not only on China but also on the supply chain around the world.
Hours before the decision, President Trump had accused China in a lengthy post of threatening to ban the export of rare earth minerals to countries around the world. These minerals are used in smartphones, electric vehicles, military equipment and renewable energy devices, and China is considered the largest global center for their production.
Trump said China is pursuing a policy of holding the world hostage and the United States will not let it succeed. He criticized Beijing's behavior and made it clear that Washington would not be lenient any longer.
Additionally, the US president indicated that he would not meet Chinese President Xi Jinping at the APEC summit in South Korea this month, signaling further strain in relations between the two countries.
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