New York [US], October 11: President Trump said additional tariffs on Chinese goods , along with US controls on "all essential US software," would take effect on November 1 in retaliation for what the leader called "tremendous aggression" from Beijing, AFP reported on October 11.
"It's unbelievable that China would do something like that, but they did, and the rest is history," Trump wrote on Truth Social.Stock markets reacted negatively after the US-China trade war showed signs of returning, with the Nasdaq index falling 3.6% and the S&P 500 falling 2.7%.
Currently, Chinese goods are being taxed by the US at 30% and China has responded with a 10% tax on US goods.
The announcement of the additional tariffs came just hours after President Trump tweeted that China had sent letters to countries announcing increased controls on exports of rare earths, a group of materials used in everything from smartphones and electric cars to military equipment and renewable energy technology.
The US president also questioned plans to meet Chinese President Xi Jinping at the APEC summit scheduled for later this month in South Korea. If it goes ahead, it would be the first face-to-face meeting between the two leaders since Trump returned to the White House.
"I was supposed to meet Xi in two weeks, at APEC, in South Korea, but now I see no reason to do so," he wrote on Truth Social.
However, later in the Oval Office, the White House owner said the meeting had not been canceled.
Source: Thanh Nien Newspaper
