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Trump announces additional tariffs on China, to begin November 1
World FX news
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Trump announces additional tariffs on China, to begin November 1
New
2025.10.11 06:43
2025.10.11 06:43
2025.10.11 06:43
US President Donald Trump hit markets with a fresh tariff threat on Friday, continuing his lashout at China over their decision to impose even stricter export licensing requirements on foreign entities trying to move critical rare earths minerals out of China.
Donald Trump declared via social media post that he will be imposing a new 100% tariff on all exports bound for the US from China, as Trump's bespoke playbook of hammering his own constituents to punish foreign nations continues to play out.
How the Trump administration will achieve a new import tariff remains to be solved by other people within the Trump team. The US government is currently in shutdown mode after the Senate failed to agree on how to fund federal operations, making it difficult to both charge and collect new trade taxes at the border.
Global markets are currently in shutdown mode, with American exchanges going dark for the Columbus Day long weekend. However, Treasury yields spiked heading into the close, and investors will be coming back to a very different sentiment outlook on Tuesday.
Tariffs FAQs
Tariffs are customs duties levied on certain merchandise imports or a category of products. Tariffs are designed to help local producers and manufacturers be more competitive in the market by providing a price advantage over similar goods that can be imported. Tariffs are widely used as tools of protectionism, along with trade barriers and import quotas.
Although tariffs and taxes both generate government revenue to fund public goods and services, they have several distinctions. Tariffs are prepaid at the port of entry, while taxes are paid at the time of purchase. Taxes are imposed on individual taxpayers and businesses, while tariffs are paid by importers.
There are two schools of thought among economists regarding the usage of tariffs. While some argue that tariffs are necessary to protect domestic industries and address trade imbalances, others see them as a harmful tool that could potentially drive prices higher over the long term and lead to a damaging trade war by encouraging tit-for-tat tariffs.
During the run-up to the presidential election in November 2024, Donald Trump made it clear that he intends to use tariffs to support the US economy and American producers. In 2024, Mexico, China and Canada accounted for 42% of total US imports. In this period, Mexico stood out as the top exporter with $466.6 billion, according to the US Census Bureau. Hence, Trump wants to focus on these three nations when imposing tariffs. He also plans to use the revenue generated through tariffs to lower personal income taxes.
Last updated
: 2025.10.11
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Trump announces additional tariffs on China, to begin November 1
US President Donald Trump hit markets with a fresh tariff threat on Friday, continuing his lashout at China over their decision to impose even stricter export licensing requirements on foreign entities trying to move critical rare earths minerals out of China.
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2025.10.11 06:42EUR/USD rebounds above 1.1600 as trade war escalates, Macron appoints PM
The EUR/USD pair recovers some ground on Friday, climbing above 1.1600 as the Greenback plunges, driven by an escalation of the trade war between the US and China. However, gains seem capped by the political turmoil and weaker-than-expected data in the Eurozone (EZ).
New
2025.10.11 06:33Gold surges near $4,000 as US-China trade tensions ignite haven demand
Gold price rises during the North American session on Friday amid an escalation of the trade war between the US and China. This, the US government shutdown and expectation for further easing by the Federal Reserve (Fed) keep the yellow metal bid.
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2025.10.11 04:12WTI Crude Oil collapses below $60 after Trump reignites US-China trade war fears
West Texas Intermediate (WTI) US Crude Oil prices collapsed below $60.00 per barrel on Friday, tumbling over 4% in Oil's worst single-day performance since June's sharp pullback.
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2025.10.11 03:41Dow Jones Industrial Average tumbles as Trump reignites tariff talk
The Dow Jones Industrial Average (DJIA) soured sharply on Friday, plummeting to its lowest bids in nearly three weeks and declining over 900 points top-to-bottom after US President Donald Trump pulled out of trade talks with Chinese President Xi Jinping and vowed to sharply increase import tariffs o
New
2025.10.11 03:06Australian Dollar slumps to one-month low amid renewed US-China trade tensions
The Australian Dollar (AUD) slumps against the US Dollar (USD) on Friday, with AUD/USD plunging to over one-month lows after US President Donald Trump threatened a "massive increase" in tariffs on Chinese imports, reigniting fears of a renewed trade war between the world's two largest economies.
New
2025.10.11 03:05Fed's Musalem: A balanced approach to monetary policy only works if inflation expectations are anchored
Federal Reserve (Fed) Bank of St. Louis President Alberto Musalem spoke about the United States (US) economy and monetary policy at a fireside chat before the Springfield Area Chamber of Commerce and Public policy speakers, stating that inflation is running high.
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2025.10.11 02:35EUR/JPY retreats from record high as French political uncertainty weighs on Euro
The Euro (EUR) extends its pullback against the Japanese Yen (JPY) on Friday, with EUR/JPY losing 0.35% to 176.40 at the time of writing, after reaching an all-time high of 177.94 in the previous session.
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2025.10.11 02:13Trump's tariff threat on China sinks US Dollar as market sentiment deteriorates
The US Dollar Index (DXY) drops by 0.48% to trade around 98.90 on Friday at the time of writing, extending its recent weakness as global investors react to a new escalation in trade tensions between the United States (US) and China.
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2025.10.11 01:34EUR/USD steadies amid French political turmoil and prolonged US shutdown
The Euro (EUR) is showing signs of stabilization against the US Dollar (USD) on Friday, pausing a four-day losing streak as the Greenback softens modestly. At the time of writing, EUR/USD trades near 1.1588, up around 0.22% on the day, after dipping to a two-month low on Thursday.
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2025.10.11 00:39Disclaimer:
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